Lowball Watch — Louisiana

Word reaches us that in a New Orleans condemnation action, Board of Supervisors of Louisian State University v. DEO Co., Orleans Parish Case No. 2010-8717 (Feb. 6th, 2014), LSU sought to take DEO’s land¬† and deposited $230,000. But after trial, the jury — after deliberating for only 40 minutes — came back with a verdict of $351,500 for land, plus $250,000 for improvements, for a total of $601,500. Deducting the $230,000 that LSU had deposited¬† earlier, that came to a $371,500 as an additional payment due the owner.

According to our calculator, the total compensation¬†comes to over 2.6 times LSU’s original offer. Plus interest.

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