Sources: City Reaches Deal For Waimea Valley
POSTED: 5:01 pm HST January 13, 2006
UPDATED: 6:28 pm HST January 13, 2006
Email
Print
HONOLULU -- The city has reached an agreement with the landowner of Waimea Valley, according to sources.Sources told KITV that the New York investor who owns the land has agreed to turn it over to the city and other organizations for about $14 million.Christian Wolffer's lawyers had previously said he needed at least $20 million for the property, which they claimed had a market value of $40 million.Under a mediated settlement, sources said the city will kick in about half of the settlement cost, roughly $7 million. Three other organizations, the Office of Hawaiian Affairs, the U.S. military and the Trust for Public Land, will cover the other $7 million, according to sources.
Previous Stories:
- December 9, 2005: Mayor Hopes For Settlement Concerning Waimea Valley Land
- December 7, 2005: Council Votes Unanimously Against Waimea Valley Development
- December 7, 2005: Group Working To Buy Waimea Valley For Preservation
- November 22, 2005: Council Votes In Secret On Waimea Valley Development
- November 17, 2005: Groups Outraged With Offer To Develop At Waimea Valley
- February 27, 2002: City Takes Ownership Of Waimea Valley
Copyright 2006 by TheHawaiiChannel.com All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
