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Cle Elum Declares Bankruptcy Over $26M Dispute with Developer

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Manage episode 492072634 series 2792715
Content provided by Sean Reynolds. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean Reynolds or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

The small city of Cle Elum, Washington has filed for Chapter 9 bankruptcy after losing a legal battle with a developer over a delayed housing project—marking just the second municipal bankruptcy in Washington state history.At the heart of the crisis is a $26 million debt owed to City Heights Holdings, LLC, following a development agreement gone sour. The City says changes in leadership and interpretations of the 2011 agreement led to disputes that escalated to arbitration, resulting in a devastating damages award.

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2921 episodes

Artwork
iconShare
 
Manage episode 492072634 series 2792715
Content provided by Sean Reynolds. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean Reynolds or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

The small city of Cle Elum, Washington has filed for Chapter 9 bankruptcy after losing a legal battle with a developer over a delayed housing project—marking just the second municipal bankruptcy in Washington state history.At the heart of the crisis is a $26 million debt owed to City Heights Holdings, LLC, following a development agreement gone sour. The City says changes in leadership and interpretations of the 2011 agreement led to disputes that escalated to arbitration, resulting in a devastating damages award.

  continue reading

2921 episodes

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