Citadel Plaza LLC v. City of Kansas City, Jackson County, Missouri – $15 million settlement
After approving funding for a commercial real estate project in an economically disadvantaged area, the City failed to meet its funding obligations, causing the development to fail. Wagstaff & Cartmell helped the developers and their creditors obtain a $15 million recovery from the City, days before trial was to begin.
About The Case
Wagstaff & Cartmell represented Citadel Plaza LLC (Citadel) in a commercial real estate case against the City of Kansas City, Missouri. The City failed to provide partial funding per their contract for the project, after the client expended significant time and money redeveloping the site. As a result, the development project failed, and the client suffered substantial losses. The case was settled for $15 million on the Friday before trial was to begin.