Fear the Putin
Starter
http://www.sacbee.com/2013/08/09/5636062/kings-owners-ask-city-to-possibly.html#mi_rss=Kings/NBA
Seems like Island Capital is trying to squeeze every last penny from the Ranadive group.
Kings officials said Thursday that they anticipated seeking the city's help in negotiating a purchase of the building that houses a Macy's men's clothing and furniture store from a New York-based real estate firm that took control of the property in foreclosure last year. Under an agreement scheduled for a vote before the City Council on Tuesday, the Kings would reimburse the city for all costs incurred in the process.
Macy's, which is the building's tenant, said Thursday it plans to vacate the property this fall and move the men's and furniture operations to the women's store at the other end of the mall.
One tool the city could use to persuade Island Capital and its subsidiary, C-III, to sell the store at 600 K St. is eminent domain, a rare – but not unprecedented – method employed in the past by City Hall in the ongoing push to revamp downtown. The decision to file an eminent domain lawsuit would require City Council approval.
Seems like Island Capital is trying to squeeze every last penny from the Ranadive group.