Dillard's seeks delay; may appeal
Last Updated: 12:37 September 3, 2013
Attorneys for the city are protesting Dillard's request, saying that Dillard's has misread the law and is simply seeking to further delay the eminent-domain proceedings.
A Boulder District Court judge ruled earlier this week that Longmont officials can take title to the Dillard's (NYSE: DDS) store at Twin Peaks Mall in the eminent-domain case. Mall owner NewMark Merrill Mountain States plans an $80 million redevelopment on the site.
The special commissioners are charged with deciding the price of the store. Dillard's attorneys also said they're “considering all of their options, which may include an appeal,” in the motion to Boulder District Court.
District Court Judge D.D. Mallard called for commissioner nominations to be made by 5 p.m. Tuesday, Sept. 3. Dillard's spokeswoman Julie Bull on Friday said the company had no comment on the case. Dillard's attorney Leslie Fields did not return calls for comment about the case.
Mallard has not ruled yet on the motion, and no date has been set for the board of commissioners' hearing.
The Village at the Peaks shopping center is slated to open in early 2015 on the former Twin Peaks Mall site. Dillard's owns its own property and holds veto power over any redevelopment plans.
Village at the Peaks is expected to include a 100,000-square-foot Sam's Club, a 30,000-square-foot Whole Foods Market (Nasdaq: WFM) grocery store, a movie theater, restaurants and shops.
City officials offered to purchase the Dillard's property for $3.6 million earlier this year, but Dillard's has requested $5 million. An appraisal done by the city in November valued the property at $3.03 million.
Eminent domain is the legal right of a public entity to take property after compensating the owner. By law, the three-person board, a jury or a judge could decide the price of the Dillard's store.
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