WEBB CITY, Mo. — The City of Webb City has filed a lawsuit over disputed land in the centennial retail park.
It’s connected to a deal in 2020 where a company called, 3rd Row Entertainment promised to build a movie theater and restaurant on a 20-acre tract of land within 12 months.
In return, the city agreed to sell the land for just a dollar an acre. The contract required the buyer to return the land to the city if nothing happened within two years. According to the lawsuit, the actual fair market value of the real property is between $35,000.00 and $50,000.00 per acre.
But it’s now been almost three years, and the city is suing to get the land back. A hearing has been scheduled in the case in March.