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The nation’s twelfth largest airport had commenced the process of acquiring contiguous property through eminent domain required for runway expansion. One landowner contended they were not only entitled to the vacant parcel’s fair market land value, but for the future business value profitability of an off-airport parking business. The “airport parking business” was yet to be developed and was no more than raw land. This is when the Airport’s counsel reached out to an industry expert to support their position and understand the validity of this multi-million dollar excess claim.
Integrity’s principal studied the landowner’s development and operating business Proforma and found it grossly lacking in the reality of creating and running a similar business at a major airport. Integrity’s principal was tasked with authoring a position statement to refute the landowner’s economic position and further be cross-examined by the landowner’s attorney under court subpoena. The ultimate findings resulted in a favorable out of court settlement on behalf of the County where the property was acquired at fair value and not an inflated one. By retaining this unique expertise Wayne County ultimately saved millions of dollars.
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