Sacramento railyard 'shining light' for struggling developer Thomas - The Times-Herald:
"Sacramento officials remain believers in Thomas and the project.
'A number of other projects in our city have been suspended, but this one keeps moving forward,' said Mayor Kevin Johnson.
Yet the partnership between Thomas and the city has been strained by a disagreement over a 2006 land transaction.
To help him buy the land from Union Pacific, the city agreed to pay Thomas a 'placeholder' sum of $55 million for a 33-acre chunk of the site, with the understanding the two sides would negotiate a final price later."
"Sacramento officials remain believers in Thomas and the project.
'A number of other projects in our city have been suspended, but this one keeps moving forward,' said Mayor Kevin Johnson.
Yet the partnership between Thomas and the city has been strained by a disagreement over a 2006 land transaction.
To help him buy the land from Union Pacific, the city agreed to pay Thomas a 'placeholder' sum of $55 million for a 33-acre chunk of the site, with the understanding the two sides would negotiate a final price later."