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Author Archive | Michael Rikon

April 5, 2019

“I’VE GOT THE HORSE RIGHT HERE” Condemning a Racetrack Part II – Valuing a Specialty

          In my prior blog on April 4, 2019, I wrote about the City of Baltimore’s proceedings to condemn the Pimlico Race Course and the “Preakness Stakes.”  One of the issues discussed was what would be the measure of damages the City would have to pay as just compensation.  I wrote that a racetrack should qualify as a specialty.  The valuation of property as a specialty requires the summation method.  One would calculate the depreciate value of the physical improvements and add that value to the land.           One of… read more

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April 3, 2019

“I’VE GOT THE HORSE RIGHT HERE” Condemning a Racetrack By Michael Rikon

The City of Baltimore has commenced eminent domain proceedings to condemn the Preakness Stakes horse race and the Pimlico racetrack.  It seems that the owners were intent on moving the Preakness Race out of the City.  The racetrack is in a rundown condition.  The Maryland Stadium Authority issued a report saying the Pimlico track should be torn down and rebuilt at a cost of $424 million.            Maryland law requires that the track be in Baltimore except for disaster or emergency.  Among the various charges levied is that the owners… read more

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Posted in Going Concern, Intangible Property, Racetracks, Uncategorized
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March 12, 2019

SO, YOU’RE BUILDING A WALL IN TEXAS – NOT SO FAST!

          In declaring a national emergency to build a border wall, President Trump described the move as the fastest path to construction.  But a variety of legal issues could delay wall construction for years and even derail it entirely.  To start with, when there is Congressional authorization, the federal government can take land for an authorized project.  This proposed taking is not authorized by Congress.  Far from it, Congress has indicated that it is absolutely opposed to the project.  Trump is attempting to do an end run around Congress by… read more

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Posted in Border Wall, National Emergency
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March 5, 2019

CROSS-EXAMINING AN APPRAISER WITH A PRIOR APPRAISAL

          The Second Department decided Matter of Klein v County of Suffolk, ____ AD3d ____, 2010 NY Slip Op 01413 on February 27, 2019.  Klein concerned a claimant’s request to obtain all appraisals that the County may have had prepared for the subject property.  The order appealed from directed the County to produce “all appraisals, and not limited only to those submitted.”  The County acquired an easement over a portion of the claimant’s property located on Fire Island as part of a federally funded construction project to reduce hurricane and… read more

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Posted in Cross Examination, Impeachment of Appraiser, Prior Appraisals, Uncategorized
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February 28, 2019

CALIFORNIA’S BULLET TRAIN IS A DUD. WHAT HAPPENS TO THE PROPERTY CONDEMNED AND NOT USED?

          The California High-Speed Rail Project was authorized by the State Legislature and signed by Governor Arnold Schwarzenegger on August 26, 2008.  The bill was submitted to California voters and approved.           The first phase of the Project was to link San Francisco with Los Angeles and Anaheim.  Up tot 24 stations were authorized.  Phase 2 was to extend north from the Central Valley to Sacramento and east from Los Angeles through Inland Empire and then south to San Diego.  The total system length would have been approximately 800 miles…. read more

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Posted in Abandonment Of Condemnation, California Bullet Train, Uncategorized
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