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Temple Terrace, developer reach settlement on stalled downtown project

The city of Temple Terrace, eager to move on with its Downtown Temple Terrace project after years of dispute with its developer, is set to get back its undeveloped land from Vlass Temple Terrace by paying Vlass $2 million.

That's the figure listed in the settlement of a lawsuit between the parties, and included as an attachment to the agenda for Tuesday's City Council meeting.

City Manager Gerald Seeber is expected to recommend that the council approve the settlement. In negotiations prior to the dual lawsuits filed in recent months, Vlass had offered to return the property to the city for $3.8 million.

The $150 million retail-residential-cultural complex has been stalled for two years over various disagreements between Vlass and the city. One key issue involved apartment buildings on the north side of the complex. The city wanted retail stores on the first floor, but Vlass said such a plan wouldn't work in a struggling economy.

Temple Terrace, developer reach settlement on stalled downtown project 08/15/14 [Last modified: Friday, August 15, 2014 12:33pm]
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