MYRTLE BEACH, SC (WMBF) - The group in control of The Market Common has been slapped with a lawsuit Tuesday, following a dispute over six acres of land near the multi-million dollar development.
Officials with the Myrtle Beach Air Force Base Redevelopment Authority said the lawsuit stems from a 2006 contract with LUK-MB1, when the company agreed to purchase six acres of land between the current Piggly Wiggly and Myrtle Beach International Airport for $165,000 an acre.
However, a wrench was thrown into the plans when the plot of land was deemed contaminated. In 2008, the government said it was suitable to sell and titled it back to the Base Redevelopment Authority.
Buddy Styers, a spokesman for the agency, said since the land was cleared by the government, LUK-MB1 has not followed through with the purchase of the land. The lack of money exchanged between the two parties has left both the contract and the Base Redevelopment Authority in limbo.
Officials tell WMBF News the agency has offered LUK-MB1 the chance to walk away from the deal and $55,000 in returned earnest money. Styers said the LUK-MB1 has not agreed to any terms proposed by the Base Redevelopment Authority, giving it no choice but to file a lawsuit.
Officials claim the lawsuit is not associated with recent foreclosure paperwork filed against The Market Common.