BRADENTON -- A subsidiary of Wells-Fargo has filed a lawsuit against the Bradenton City Council asking for a reversal of the council’s June 13 decision to reject a proposed amendment to the waterfront River Song development.
Redus Florida Land, LLC, which purchased the River Song property after a foreclosure sale in May, contends the city council’s unanimous rejection of the amendment “departed from the essential requirements of law” and was not based on “competent substantial evidence.”
The lawsuit, filed Friday, also contends that council members were swayed by citizens who provided public hearing testimony against the project that was based on “an apparent misunderstanding of and misstatements of fact.”
The former owners of the River Song property, developers Promenade at Riverwalk II, had asked the city for a plan amendment that would have eliminated ground-floor retail from the proposed building and reduced its size from five stories to three.
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Numerous citizens spoke at the hearing in opposition to the amendment, many saying that the parcel’s pivotal waterfront location abutting the city’s upcoming Riverwalk project made the ground-floor retail an essential need for the revitalization of downtown Bradenton.
Several citizens also objected to the property being developed for rental apartments rather than condominiums.
Promenade at Riverwalk II lost the property to Wells-Fargo in a foreclosure sale in May after defaulting in 2008 on a loan from Wachovia, which was later purchased by Wells-Fargo.