Another Redevelopment Project Down the Tubes

Back in 2009 we blogged about the California case of Redevelopment Agency of Sand Diego v. Mesdaq, 154 Cal.Rptr.3d 372. There, the trial court awarded $7,785,131.83 for the taking of a lounge, on the agency’s deposit of $3,091,000. The California Court of Appeal reversed (its holding was later overruled, which is another story). What caught our attention was that after the reversal the case settled for $7,800,000, about the same as the reversed verdict. Why? We don’t know. See Jeanette Steele, Deal Reached in Year-Long Eminent Domain Case, San Diego Union, January 17, 2008, at p. A1 – click here.

We now learn from LIBERTY & LAW, April 2012,  Vol.21, Issue 2, at pp. 6-7,  a publication of the Institute for Justice, that the redevelopment project for which the Mesdaq property was taken (ostensibly for a Marriott hotel), went belly up and the subject property is now a parking lot.

Your tax money at work.