The City of Sarasota wins an appeal of a $49 million Palm Avenue Parking Garage lawsuit.
According to the Herald-Tribune, Buck-Leiter was originally selected to design and construct the Palm Avenue Parking Garage. City staff and developers were negotiating a final agreement for the development in 2008 when commissioners backed out of the deal. Commissioners said they were concerned about design and finances.
Buck-Leiter argued that the city breached an agreement by halting the plans, while the city said that the developer “anticipatorily” breached the contract by being unable or unwilling to fulfill the duties promised in good faith.
Buck-Leiter won a 2018 verdict of 49 million dollars against the city in the lawsuit. But just yesterday, the Second District Court of Appeal issued its decision against Buck-Leiter Development.
The amount was reduced from $49 million to $1.4 million.
The city eventually moved forward with its own plans to build the Palm Avenue Parking Garage that exists today.
