The city of West Palm Beach expects to recoup its prime downtown site from what remains of Digital Domain, a company that promised, before it went bust, to put Florida on the movie-making map.
The city, which gave the parcel, valued at an estimated $10 million, to St. Lucie-based Digital Domain Media Group, is working a deal for the return of the land in exchange for not suing the digital animation company, its directors or its lenders, The Palm Beach Post reports.
A bankruptcy judge must still approve the agreement.
Source: Palm Beach Post
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