City should let mall talks run course

Now that the city of Longmont has voted to authorize eminent domain — condemnation — in the case of the Dillard’s department store at Twin Peaks Mall, we hope all sides will take a deep breath and get back to the bargaining table.

The Longmont City Council, operating as the Longmont Urban Renewal Authority, voted 6-to-1 on April 9 to authorize eminent domain for the 94,000-square-foot Dillard’s location. Twin Peaks Mall owner NewMark Merrill Mountain States, based in Fort Collins, is planning to redevelop the 550,000-square-foot mall into an open-air shopping center.

Dillard’s has gone back and forth about whether it wants to be part of an open-air shopping center — the answer currently is “no” — and has been unable to agree on a sale price with NewMark Merrill.

We understand NewMark Merrill’s desire for clarity and a final outcome to the negotiations. We also understand Dillard’s desire to secure the highest possible price for the Longmont location. And we certainly understand why the city council opted to authorize condemnation — without voting to actually use eminent domain.

However, we hope all sides will see the value in reaching a fair settlement of the dispute. Dillard’s has been a valuable and valued retailer that has pumped sales-tax dollars into Longmont’s coffers. NewMark Merrill has invested millions of dollars into purchase of Twin Peaks, as well as pushing an ambitious plan to revitalize what was once a gem of Boulder Valley retail.

Now that the city has provided additional ammunition to spur Dillard’s toward a deal, our hope is that the power of eminent domain will not be used. Condemnation would almost certainly add further costs in terms of time, money and litigation.

All parties should avoid that outcome and get a deal done.