Real Estate/Development,
Civil Litigation
Sep. 3, 2020
City of San Diego suspends lease payments in $120M, 20-year lease agreement on Ash Street property
Just days after a landlord of a 19-story downtown San Diego high-rise sent a threatening letter to a taxpayer that sued to stop lease payments to the unoccupied building using public dollars, the city of San Diego has decided to suspend payments in the lease-to-own agreement. So far the city has spent millions on the building that remains unoccupied due to massive reconstruction from code violations, asbestos, faulty electricity and more.
The city of San Diego suspended lease payments on a 19-story downtown high rise, following a review of a lawsuit filed by a taxpayer alleging fraud and waste of public funds.
The decision was reached after considering concerns raised by city leaders, according to a letter the city's chief financial officer, Rolando Charvel, sent Tuesday to the landlord, 101 Ash LLC.
101 Ash LLC is an entity created...
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