How Much Does 10 Liquor Icenses Increase A Value Of A Historic Jail?

[KHS445]

In that case get your ducks in order, obtain as much information as you can and then negotiate the best deal possible. Sometimes it takes more than being right to win.

 

[historicplace]

I'm pretty sure of which city it is and if that's the case, yes, the city does have the clout.

Actually there's a very good chance they're the ones that got the law instituted in the first place. The city has a small but well respected liberal arts college that sends a lot of grads to law school and then on to politics. The alumni political connections go deep into the statehouse and, in the case of a few grads, onto DC.

I think it would be a relatively easy task to get the 'historic jail' requirement taken out of the law. Getting a law passed is the hard part, getting it amended is almost a no-brainer.

The law was tailored to another city in Indiana. My town fits the same criteria & is utilizing it.

I would think it would be bad for my towns Image & brand to have a law changed in lieu of securing the property that allows them the liquor permits. They may be rubbing elbows with the local paper, but not outside press. I can see the headlines now, "City pursues changing law at the expense of grandma asking fair market value for her property. The g'ma was heard saying, "I just want to pay off my house." " The AP would have a field day with that one, lol.

 

[historicplace]

I'm pretty sure of which city it is and if that's the case, yes, the city does have the clout.

Actually there's a very good chance they're the ones that got the law instituted in the first place. The city has a small but well respected liberal arts college that sends a lot of grads to law school and then on to politics. The alumni political connections go deep into the statehouse and, in the case of a few grads, onto DC.

I think it would be a relatively easy task to get the 'historic jail' requirement taken out of the law. Getting a law passed is the hard part, getting it amended is almost a no-brainer.

The law was tailored to another city in Indiana. My town fits the same criteria & is utilizing it.

I would think it would be bad for my towns Image & brand to have a law changed in lieu of securing the property that allows them the liquor permits. They may be rubbing elbows with the local paper, but not the outside press. I can see the headlines now, "City pursues changing law at the expense of grandma asking fair market value for her property. The g'ma was heard saying, "I just want to pay off my house." " The AP would have a field day with that one, lol.

 

[JTip]

in lieu of securing the property that allows them the liquor permits.

The city should just acquire your property through eminent domain.

Securing the $20 million in funding along with the availability of these licenses will be great for the citizens of your town. Think of the jobs, tourism and money it will bring. With 4% unemployment in your state, I'm sure many would benefit from a local job.

Your fair market value will be decided by the courts in a year or two. Go have some ribs and a beer at one of the new restaurants in town while you wait.

 

[Mark K]

"City pursues changing law at the expense of grandma asking fair market value for her property. The g'ma was heard saying, "I just want to pay off my house." " The AP would have a field day with that one, lol.

So they change the law? That means that g'ma can keep her valuable, historic building. Besides, from what I read, g'ma doesn't want fair market value for the property, she wants to squeeze the town for something above the definition of fair market value. The extra property "value" (not fair market value) was created by the whims of some lawmakers; it can be lost the same way. That's the chance that g'ma is taking if she wants to try to play hardball with people that have the ability to get the rules changed between innings.

Plus, I think you vastly overestimate the interest the AP would have with this. The law change would be a by-line in some omnibus bill that only you and the Town would notice or care about. These types of deals happen everyday in statehouses across the country.

 

[JTip]

she wants to squeeze the tax paying citizens for something above the definition of fair market value.

I usually don't change posts like this but it's important to point this out......

 

[historicplace]

The city should just acquire your property through eminent domain.

Eminent domain is where the government takes private property and convert it into public use. It must gives just compensation to the property owners. Going to court & asking to pay me for it is not the case. The property is for sale. Since the redevelopment, other properties have been marketed at a higher price point. One is a few million, 12 times what I had mine on the market for.

 

[JTip]

Eminent domain is where the government takes private property and convert it into public use.

I know what eminent domain is; it's my job.

It must gives just compensation to the property owners.

I said you would get fair market value for the property, a jury court would decide if it goes that far.

 

[historicplace]

I know what eminent domain is; it's my job.



I said you would get fair market value for the property, a jury court would decide if it goes that far.

I'm not trying to step on toe, I'm unsure what you do for a living. The property is for sale. Fair market is all I want. This is the reason why I can on this forum. Trying to get direction for that. I have since contacted/hired individuals who have been assisting me.

 

[Meandering]

I'm not trying to step on toe, I'm unsure what you do for a living. The property is for sale. Fair market is all I want. This is the reason why I can on this forum. Trying to get direction for that. I have since contacted/hired individuals who have been assisting me.

Glad you have hired locals who can help you.

"Fair market value" is defined by the IRS.
Being for sale, has nothing to do with condemnation, nor the amount of money a judge will decide is "Fair".

And just a side note to "fair", is that if, you already have it listed, apparently you weren't going to hold it for an "investment in the future" which makes "fair", a more contemporary number. Pity.


Hopefully of those you've retained to assist you, one at least, is a good real estate attorney.

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