Mayor Kraham Announces Update on Binghamton Plaza Bankruptcy Case
MAYOR KRAHAM ADDRESSED THE FEDERAL BANKRUPTCY CASE INVOLVING THE OWNERS OF THE BINGHAMTON PLAZA THIS AFTERNOON.
THE RESIDING BANKRUPTCY JUDGE, DIANE DAVIS, DISMISSED THE CASE WHICH PREVIOUSLY acted as A SHIELD for the plaza to avoid GOVERNMENT ACTION.
THIS DISMISSAL WILL ALLOW THE CITY TO CONTINUE WITH ITS EMINENT DOMAIN PROCEEDINGS OVER THE PLAZA.
“Yesterday’s dismissal represents an early victory and a significant step forward in the City’s effort to gain control of the long-decaying Binghamton Plaza and clear the way for revitalization on the North Side", said Mayor Kraham.
THE CITY PLANS TO ACQUIRE THE PROPERTY FOR THE GOOD OF THE PUBLIC AND ATTEMPT TO RESTORE THE AREA OR EVEN REMOVE THE PLAZA TO MAKE WAY FOR NEW PROJECTS.