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by datavirtue
1547 days ago
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I think the optimal course is to have a very painful eminant domain process that pays a crappy above market rate so that government is incentivized to offer actual market rate (big project wants your land so market rate is vastly increased as a result). I have seen corn fields sold for millions because a state college wanted it for a new campus. The market rate was well under $1MM. For that land eminant domain would have been a nightmare because of the particular politics and unimproved nature of the site....so they had to offer actual market rate...which is the rate demanded of someone when they know it's a monied developer that wants it. |
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