The plaintiff, SunCal, claims that by losing its exclusive bargaining rights to develop the area on and around Alameda Naval Air Station, other companies will benefit from its three year and $17 million investment.
The company is asking for damages and lost profits equal to $117 million.
From the San Jose Mercury News:
The company seeking to redevelop the former Navy base here is seeking more than $100 million in damages against the city of Alameda because it says local officials acted in bad faith in a bid to sideline its efforts so they could redevelop the site on their own.
SunCal Companies announced today that it was amending the lawsuit in the U.S. District Court for the Northern District of California, where it accuses Interim City Manager Ann Marie Gallant and other city officials of “seeking to destroy a development that will significantly enhance the environment and add value to the community.”
Read the full article here.