Update On Federal Case Involving Binghamton Plaza Owners

(BINGHAMTON, N.Y.) — Mayor Jared M. Kraham on Thursday released the following statement regarding the federal bankruptcy case involving owners of the Binghamton Plaza:

“On Wednesday, a U.S. Bankruptcy Court Judge signed an order dismissing the Chapter 11 case involving the owners of the Binghamton Plaza. This order also dismisses the shield that may have given the Plaza owners protection from a number of government actions, including eminent domain proceedings by the City of Binghamton.

“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.

“The City can now move forward with an eminent domain proceeding to acquire the property for the public good.

“The Binghamton Plaza has continued to deteriorate for decades, diminishing quality of life for North Side families and hurting nearby small businesses. Enough is enough.

“Yesterday’s court action was one positive step in what will be a long fight for progress on this property. But after decades of inaction by property owners, it’s a step worth celebrating. The City will continue to be proactive and aggressive on behalf of residents as we move forward with our eminent domain action.”

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