Land Use & Property Rights
The Legal Decision a Win for Landowners. Landowners in Long Beach, New York prevailed in court this week when an appeal by the city was denied.
$5.5M per landowner for undervalued land in eminent domain. The decision awards $19 million for land values, attorney fees and costs, plus interest to land owners. Each landowner was underpaid for property at the roughly $5.5 million each.
What is the city doing with this land? A Developer wants to build luxury apartments, retail space, and a boardwalk. It was a 2006 effort to revitalize the area.
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