Master developer in default of contract with city of Joplin

Joplin's contracted master development firm has been notified by the city that it is in default of its agreement that gives the firm leadership of the city's tornado redevelopment work.

After Wallace Bajjali Development Partners seemingly disappeared - leaving the press and the public in the dark - Joplin's city council on Monday said the city had been notified the managing partners of the firm, including CEO David Wallace, exited their roles. According to the Joplin Globe, his departure followed what appeared to have been a successful takeover in the works from partner Costa Bajjali and plans to merge with another company.

"The city is now reviewing its options regarding the contractual agreement it entered with Wallace Bajjali on July 2, 2012," Joplin Mayor Mike Seibert said in reference to the development agreement that set out the terms for the relationship between the city and the firm, as well as its duties as master developer. But the firm is now considered in default by the city for another reason.

City Manager Sam Anselm notified the firm Jan. 16 that its liability insurance covering its work in Joplin had lapsed, a breach of contract terms. City Attorney Peter Edwards said the firm has 30 days from the date of the letter to produce new insurance coverage.

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