Page 6 - Cisterra Development News Today

After 45-minute hearing Thursday, Judge Joel Wohlfeil says he will evaluate arguments from each side and issue a final ruling soon

The decision would remove Wilmington Trust from the lawsuit; lawyers for the city, meanwhile, have two similar motions pending

Plaintiff John Gordon had wanted the court to block the city from selling bonds after buying out the troubled 101 Ash St. lease

Residents are concerned that money for long-sought projects is being diverted to buy out the two troubled leases

Court hearing scheduled for Thursday pushed to Sept. 7

'It didn’t seem like people wanted to get to the bottom of what happened,' Kris Michell says

Lawyer, minister say blue-collar workers exposed during construction should be taken care of like plaintiffs in lease dispute

Premature deal could be the latest City Hall management debacle to haunt San Diegans. Talk of a new City Hall is also grossly premature.

The San Diego City Council Tuesday accepted a much-debated settlement with Cisterra Development and lender CGA over the 101 Ash Street and Civic Center Plaza...

The settlement transfers ownership of the properties to the city for about $132 million — $86 million for 101 Ash and $46 million for CCP — and refunds the city $7.5 million in profits that Cisterra made in its lease-to-own deal with the city on the 101 Ash property. The deal allows Cisterra to keep its $6.2 million in profits from a similar deal with Civic Center Plaza. That refund will come in two payments this fiscal year.