By Patrick McNamara
Inside Tucson Business
Rio Nuevo would turn over $2.1 million to the City of Tucson in exchange for the titles to some downtown properties as part of a settlement agreement under negotiation between the two entities to end pending litigation.
Details of the settlement were included in some emails sent among Rio Nuevo Board Chairman Fletcher McCusker, Tucson Mayor Jonathan Rothschild, Tucson City Attorney Mike Rankin and Mark Collins, attorney for Rio Nuevo. Inside Tucson Business has obtained copies of those emails.
“I believe that we are a few days or weeks from having something we can talk about,” McCusker said, adding the conversations were still preliminary and approval of a settlement agreement by the City Council and Rio Nuevo board would be necessary.
The properties includes several west of Interstate 10 and a few closer to the Tucson Convention Center. Rio Nuevo had claimed ownership of the properties but the city holds title to them.