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The original item was published from 2/4/2015 10:18:06 AM to 3/22/2015 12:10:00 AM.

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Posted on: February 4, 2015

[ARCHIVED] City terminates contracts with Wallace Bajjali

On February 3, 2015, the City terminated both the Master Predevelopment Agreement and the Land Assemblage, Disposition and Management Services Agreement with Wallace Bajjali Development Partners, L.P., as a result of demonstrated facts of insolvency, and for committed acts of gross negligence, fraud, and willful misconduct. A copy of the termination letter is attached.

City Manager Sam Anselm has issued the following statement in response to this action:

“By taking this step, the City can move forward with the recovery of our community through the ongoing redevelopment of both the public and private sectors. I look forward to working with our great staff, the City Council, and with our residents to ensure that any project we move forward with will add value to the long-term recovery and prosperity of our city. We have demonstrated our resolve and resiliency to the world once before, and I hope we can show our true character again as we proceed with the next phase of our recovery.”

To view letter of contract termination...
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