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Eminent Domain Significant Tool for Municipal Services “Going Concern” Valuation

A news story reports that the owner of White’s Ferry on the Potomac River wants the Loudoun County Board of Supervisors to exercise eminent domain over the private Virginia property where the ferry is docked.  The owner of the Virginia land was not willing to renew the lease. An owner must be aware of the government’s power of eminent domain if their properties are used to provide public services.   Fifth Avenue Coach Lines, Inc. v City of New York, 11 NY2d 342 (1962) is one example.  In Fifth Avenue Coach,… read more

Posted in Condemnation, Going Concern Valuation, Municipal Services
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