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Thursday, July 24, 2008

Ind. Courts - More on Pan Am Plaza lawsuit

Updating this ILB entry posted yesterday, Bill Ruthhart of the Indianapolis Star reports today in a story that begins:

A lawsuit filed Wednesday asserts the Indiana Sports Corp. owes Marion County taxpayers $6 million for selling Pan Am Plaza.

The complaint, filed on behalf of taxpayers Clarke Kahlo and Howard Elder, argues taxpayers are owed the money because the Sports Corp. and the city's Metropolitan Development Commission broke a 1985 deal that required Pan Am Plaza to remain as a public space.
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Earlier this year, their lawyer, Paul Ogden, filed a lawsuit over plans by the Capital Improvement Board to give two nonprofits some of the money raised by auctioning off items from the RCA Dome. In light of the suit, the board reversed course, leaving the money with taxpayers.

According to the Pan Am Plaza lawsuit, which was filed in Marion Superior Court, the Sports Corp. sold the Pan Am Plaza lot in April to KRG/CP Pan Am Plaza LLC and placed the proceeds of the sale into a trust for future operations. Susan Williams, president of the Sports Corp., declined to disclose the amount of that sale Wednesday.

The lawsuit centers on a 22-year-old redevelopment agreement between the city's Metropolitan Development Commission and the nonprofit Sports Corp. Under that deal, Pan Am Plaza was to be maintained as a public space.

Posted by Marcia Oddi on July 24, 2008 09:01 AM
Posted to Indiana Courts