Buck–Leiter Development was negotiating with the city to build the Palm Avenue garage, a hotel and retail space on city property, but it says the city voted to halt the talks and thus broke their contract.
A lawyer for Buck–Leiter said the firm won’t seek additional attorney fees if the city pays the full $49.8 million breach–of–contract judgment, plus interest, by 2022.
The Herald-Tribune says that could save taxpayers an additional $25 million.
Still a new ruling may overturn that judgment.
County Court Judge Erika Quartermaine has yet to rule on the city’s motion for a directed verdict that argued the plaintiff lacked sufficient evidence at the end of trial to prove its claim.