Juneau, AK (KINY) - A lawsuit settlement between the CBJ and the owner of the Gastineau Apartments will allow the CBJ to recoup $1.5 million dollars that they had spent to demolish the building in 2016.
This brings an end to a lawsuit that has taken two years to settle. The owner also admitted fault.
The Gastineau Apartments had been horribly damaged by a fire in 2012 and again faced fire in 2015. The property was deemed a public problem and was torn down in January of 2016.
Owner Kathleen Barrett will be making scheduled payments that will then go into a trust account. City Manager Rorie Watt tells us that the use of the money will be up to the Assembly.
"It is up to the discretion of the Assembly on what we do with the revenue. Obviously the city has lots of needs and requests, so we'll work with the Assembly on how to prioritize where the money goes."
Watt also tells us that they hope to bundle that property with city-owned parcels in the same area as a more appealing package for those looking to develop.
"With regards to the property in the long run, they [owners of Gastineau Apartments] have indicated that they will be selling the property. We have the adjacent and contiguous park property and we are in early discussions on jointly marketing the properties together. They kind of go together.
"The hope is that together we'll be able to market and sell our property and find a developer who could build something substantial and worthy for downtown."