Vail may have to condemn Wendy’s
VAIL ” Wendy’s in Vail is closed, but the town still doesn’t own the land, where it wants to build a fire station.
The town has made an offer of $2 million to the owner of the land, CNL APF Partnership. The owner has until Sunday to respond to the offer, said Matt Mire, attorney for the town of Vail.
As of Friday, the town had not heard from the owner regarding the offer, Mire said.
The Wendy’s property is adjacent to the Chamonix land, which the town already owns. On the two pieces of land, the town wants to build affordable housing and a fire station.
The Town Council has passed a resolution of intent to condemn the property.
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Wendy’s closed a couple of weeks ago. Gary Miller, part of the group that operated the restaurant, declined comment on Wednesday. Miller’s attorney did not return a phone call.
Last year, the town had a contract with Miller’s group, Wend Vail, to buy the land for $2 million. But a dispute between the tenant and the owner caused the deal to fall through.
Wend Vail has sued the owner of the land, citing breach of contract. The dispute centers around the value of the land.
In its contract, Wend Vail has the right to buy the land for $1.4 million or the fair market value, whichever is greater.
In court documents, Wend Vail said it hired an appraisal that said the land is worth $1.495 million.
But the owner, CNL APF Partners, hired an appraiser that said the land is worth $1.946 million, the documents say.
Mire said he’ll update the council on the situation and ask them what they want to do.
“One possible option is to condemn the property,” he said.
Staff Writer Edward Stoner can be reached at 748-2929 or firstname.lastname@example.org.