Last night, the Troutdale City Council voted 5-2 to approve a settlement agreement with developer D.A. Grey. As part of the agreement, the city agreed to request that the appeal of its Sedona Park land use decision before LUBA be voluntarily remanded.
The city also agreed to:
-Adopt a decision on remand that affirms the Planning Commission's decision approving a 19 unit condominium development, provided that the condominiums shall not be built unless the city fails to approve a development agreement for 9 single family homes or the actions of a third party preclude D.A. Grey from commencing development of the 9 lot single family subdivision by June 1, 2007.
-Tender payment of $300,000 to D.A. Grey.
In return, D.A. Grey agrees not to sue the city and waives any claims for damages, compensation or legal fees arising out of the city council's land use decision that landlocked their property.
Of course, the settlement agreement states that each side agrees that the agreement is not to be construed as an admission of liability on the parties to the agreement and each side expressly denies liability.
For details of this settlement and for a history of the Tyson's Place development, read my previous post here.
What a waste of money.
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