UpdatedThu, Apr 8, 2021 at 6:02 pm ET
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A settlement agreement unanimously approved by the Long Beach City Council will drop the $100 million lawsuit that iStar brought against the city. (Joseph Kellard/Patch)
LONG BEACH, NY A settlement agreement between Long Beach and iStar Financial will drop the company s $100 million lawsuit against the city and pave the way for construction to begin on the Superblock.
In 2018, iStar filed a $100 million lawsuit against the city claiming that it was in breach of contract for not supporting iStar s planned Superblock development with the county. But two measures the City Council approved at its meeting on Tuesday would drop the lawsuit against the city, and in exchange give new developers Engel Burman $2.5 million in building permit fees that iStar already paid.
Something is just not right : New Haven mayor on tax-exempt property hitting $8.5 billion in city
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The entrance to Yale University s Old Campus across from the New Haven Green photographed on February 9, 2021.Arnold Gold / Hearst Connecticut MediaShow MoreShow Less
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The entrance to Yale University s Old Campus across from the New Haven Green photographed on February 9, 2021.Arnold Gold / Hearst Connecticut MediaShow MoreShow Less
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Davenport College at Yale University, New Haven, Conn., Wednesday, March 10, 2021.Peter Hvizdak / Hearst Connecticut MediaShow MoreShow Less
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NEW HAVEN Here’s what Mayor Justin Elicker, city Budget Director Michael Gormany and others trying to balance the city budget are up against: tax-exempt property in New Haven now represents nearly 60 percent of the grand list on which the coming fiscal year’s budget is based, the city’s acting assessor says.