For Chan Hua and his restaurant family working at Taste of China, the American dream lives. The City Council voted Monday to eliminate any possibility of taking the downtown Chinese restaurant by force. Related: Residents protest Van Dorn development

Hua immigrated to the United States after his ancestors were kicked off properties in Communist China and Cambodia.

“No honest hard-working taxpayer should ever have to live in fear of their government,” said Councilwoman Patte Newman as officials voted unanimously to remove any threat of eminent domain.

For Lincoln’s visionaries, however, that made less certain the dream of renewing a downtown rebirth with a $50 million high-rise and urban plaza.

“This is a tremendous opportunity for the city,” said Cecil Steward, co-leader of a downtown revitalization effort. “This is a catalyst project.”

Project backers envision a high-rise, parking tower and civic plaza sitting between the University of Nebraska-Lincoln and the city’s financial district, between the Haymarket and Antelope Valley redevelopment.

Dallas McGee, assistant director of the Urban Development Department, said developers have expressed a willingness to spend in the range of $40 million to $60 million dollars on the four-block area centered on the Star Ship 9 Theater.

But key to that investment is obtaining the corner occupied by Taste of China.

Without it, large private dollars may not materialize. Without them, the city can’t leverage tax increment financing, McGee said. The upshot: The project could shrink drastically, until what remains is a moderate-sized parking tower.

Will development dollars really materialize, or will the city end up spending millions on unwanted properties? Councilman Ken Svoboda wanted to know.

McGee spoke slowly, emphasizing every word: “There is a very viable development interest in this site.” The key is the corner.

For Hua, it’s not about the money, said his real estate agent, Steve Guittar.

Hua came to the United States 20 years ago. He and and his family have spent 15 years building their restaurant business.

It’s not a big money-maker, Hua said, “but it’s good enough for me to survive 15 years.” Moving somewhere else, he said, his business could be gone in two years.

He wants a viable place, he said. “I will move within a month if they can find me a place,” Hua said. “I have no intention to stop the city.”

City officials and Hua expressed similar frustrations in their dealings with each other.

An initial city appraisal put the value of the restaurant at $240,000, which is less than Hua paid for it two years ago. The city briefly offered $330,000, but Hua says comparable locations all cost about $500,000.

Councilman Dan Marvin marveled, “We’re talking about a $50 million project. We ought to be able to accommodate all parties.”

McGee said after the meeting that the city’s top offer is limited by the low appraisal, but recent developments may provide a way around.

In the past week, private parties have expressed interest in relocating Hua and then dealing with the city, possibly by becoming part of the development team. As private operators, they wouldn’t have the same constraints.

On Monday morning, McGee said, a property Hua lost earlier to another bidder came back on the market because the first deal failed.

The devils in the details, Guittar said.

The resolution approved by the council Monday authorizes city employees to purchase the Wasabi restaurant building, Star Ship 9 and vacant Douglas 3 property and to continue negotiations to acquire Taste of China.

McGee mapped out an ambitious schedule. Requests for proposals would be issued in mid-May.

The city would take ownership of properties in June. Project proposals could be ready for review as early as mid-July.

Demolition of the vacant Douglas 3 building would begin then. Wasabi and Star Ship would remain open through the end of the year, and then be razed.

Monday’s vote advanced the project slightly, but it was a big deal for Hua. It’s been stressful not knowing what the city might threaten, he said.

“I worked really hard to get to this point,” he said.

Reach Mark Andersen at 473-7238 or mandersen@journalstar.com.