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Miami Strikes $20M Damages Deal Over $400M Eviction Effort

Law360 (May 9, 2019, 10:26 PM EDT) -- The Miami City Commission voted Thursday to approve a $20 million settlement agreement days before a damages trial over its failed attempt to evict the developer of a planned $400 million mixed-use project on city-owned land.

A May 13 trial date loomed to determine damages for Flagstone Island Gardens LLC and Flagstone Development Corp. following a state court's March 2018 decision that found they fully complied with lease and development agreements for a marina, hotel, and retail and parking facilities, while the city breached those agreements through a 2017 default resolution approved by the commission. The development would be located on Watson Island...

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