Overview
- The owner must list the downtown property for sale by the end of August and complete a sale by Dec. 31, 2026.
- If no sale closes by the deadline, Caydon has 90 days to obtain permits for a controlled demolition.
- Failure to comply could bring civil penalties of up to $1 million under the court-approved agreement.
- The city documented hazards including asbestos, lead paint, structural failures, fires and persistent trespassing at the shuttered venue.
- Caydon bought the site in 2019 for a planned 41‑story project before collapsing into receivership, and it denies wrongdoing in the settlement.