City officials expect to file the court action by end of June …
FREMONT — City officials have started the eminent domain process to purchase a parcel of land considered key in developing the downtown area, while taking steps to reassure neighboring owners that their properties are not next for the wrecking ball.
The five-member City Council unanimously voted last week to seize and acquire a 65,150 square-foot property at 39138 Fremont Blvd., between Mowry and Beacon avenues. The parcel is home to a three-story office building that houses a Citibank branch and other businesses. The building is in Fremont Plaza, a strip mall between a pair of outdoor shopping centers, Town Fair and The Hub.
“The city is looking forward to meeting with representatives of the owners of the Citibank building as soon as possible to work out the differences we have regarding the value of the building,” City Attorney Harvey Levine said. “We have already reached out to the tenants to assist them in finding new places to relocate.”
Norm Matteoni, a San Jose-based attorney representing the Southern California-based property owners, Fremont Capital Group, LLC, said the city is not offering fair market value.
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