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Oct 7, 2008 7:22 pm US/Pacific

City Decides Against Eminent Domain For K Street

SACRAMENTO (CBS13) ― The battle between Sacramento and developer Moe Mohanna over the K Street Mall has reportedly come to an end. All lawsuits in the case have been dropped, and the City of Sacramento has decided not to use eminent domain to force Mohanna to hand over the property.

The reported settlement would have the city pay Mohanna about $18.6 million for his properties on the 800 block of K Street, paving the way for new developments in the area. A judge could approve the settlement by the end of the week.

Mohanna had vowed to fight the city's efforts to force him to sell his property.

Plans for the area could include a 400-room hotel and other mixed-use developments, and the prospective developer says he already has a letter of intent from Hilton Hotels.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

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