TITLE
Recommendation to authorize City Attorney to accept the sum of $300,000 in full settlement of a dispute between the City of Long Beach and Big League Dreams USA, LLC.
DISCUSSION
This dispute arises out of the proposed development of a sports park by Big League Dreams USA, LLC (BLD). City paid BLD fees for various services rendered during conceptual development of the sports park. For various reasons the City failed to move forward with the proposed development. Some portion of the fees paid by City to BLD are required to be refunded by BLD to City. However, a dispute exists regarding the exact amount. After settlement discussions, BLD has agreed to refund to City $300,000 in full discharge of its obligations, and to waive any and all other claims it may have against City in connection with this matter.
This settlement was approved by the Economic Development and Finance Committee on December 7, 2010.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
ROBERT E. SHANNON
CITY ATTORNEY
Richard F. Anthony
Deputy City Attorney