The City of Manitowoc is going to settle its lawsuit with Walgreens.
The Common Council approved paying back about $14,000 to the company and reassessing the property value.
Walgreens Co. filed a lawsuit against the city, claiming the city over-assessed its Calumet Ave. store.
The city agreed after talking briefly about it in a closed session.
The property value has now been assessed at $3 million compared to about $3.8 million when it was first assessed.
City Attorney Eric Nycz wanted to recognize that the company is still paying more than the city average, with the property still valued at about 51% more than before.
The city average was around 35%.
