Confidential
Settlement – $730,000Facts
On Feb. 27, 1997, the plaintiff, on behalf of a government body, condemned a 3.62 acre parcel acquired by the defendant at aution. A dispute arose as to the value of the property taken. The plaintiff brought this action against the property based on eminent domain. Per defendant, the government offered $443,000, but the owner demanded $750.000.
Settlement Discussions
Per plaintiff, the plaintiff made a settlement demand of $630,000. Per defendant, the plaintiff made a settlement offer of $600,000. Per plaintiff, the defendant made an offer of $730,000. Per defendant, the defendant countered offer of $800,000. After discovery was completed, the parties agreed upon $730,000 as the fair market value for the property.
Damages
$1 million claimed by defendant as the fair market value of the property taken
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