Developer Threatening Town of Normal with $6.5M Lawsuit
By: Kim Behrens
Updated: March 4, 2013
NORMAL- An area developer is threatening to sue the town for $6.5 million.
Nearly five years ago, leaders hired One Main Development of Champaign for a project near the Uptown Circle.
Normal's City Manager says the company never secured financing even after the town extended its deadline, so it terminated the agreement.
Normal leaders hired a different developer to construct a hotel, apartments and retail space on the existing site.
The council will vote on an agreement to ensure the hired company doesn't lose money in this dispute.
Nearly five years ago, leaders hired One Main Development of Champaign for a project near the Uptown Circle.
Normal's City Manager says the company never secured financing even after the town extended its deadline, so it terminated the agreement.
Normal leaders hired a different developer to construct a hotel, apartments and retail space on the existing site.
The council will vote on an agreement to ensure the hired company doesn't lose money in this dispute.
