Business & Tech
Indio Agrees To Settle With PD Developer For $2.58 Million
The terms of the agreement were expected to be released Thursday.
The city of Indio agreed today to settle with Palm Desert-based KEB Enterprises for $2.58 million.
The development company had been seeking $13 million when it filed a lawsuit two years ago alleging that officials breached a contract and stole designs for a planned
transportation center.
The Indio City Council approved the agreement during a closed session Wednesday.
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The terms of the agreement were expected to be made public Thursday, according to City Manager Dan Martinez.
Attorneys they were near a settlement April 25 on the day a trail was set to begin.
KEB Enterprises filed the lawsuit in 2009, accusing the city of improper conduct during planning for an Indio Transportation Center, which has yet to be built, on Indio Boulevard.
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The suit alleged the city broke a 2007 contract under which 6.5 acres of land was to be leased to KEB Enterprises for $1 a year if the company developed and operated the transportation hub.
The planned 17,000-square-foot transportation center would offer bus and train service as well as shuttle service to local casinos and include a restaurant and several other businesses.
City News Service contributed to this report.
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