I may be wrong, as the USA law is different to the UK's (and it was only mentioned briefly in my training all those years ago), however I believe in the USA compensation for
Compulsary Purchase is an appraisal of the open market value of the residential property.
If it was a private company, then it wouldnt have been compulsary purchase, and they would offer more than the market value to get the land.
In the UK you'd get the Market Value; plus compensation based upon the time the property has been in your, or your families possession for the Compulsary Purchase, and the same thing would happen as in the USA for private companies.
Not knowing all the facts, i couldnt second guess the Judges.. but on the face of it, this is just a private company getting the land cheap by making a loophole in the legislation.
Someone is probably either on the take or has an interest in the development at the Local Government level for them to get involved in something like this...
Bookmarks