Judge Values Tabor Parcel at $4.6 Million
by Marcia Chambers | July 30, 2007 10:04 PM | Permalink | Comments (3)
A Superior Court judge has determined that the 77 acre Tabor property was worth $4.6 million on January 6, 2004, the day the town seized the property under eminent domain law.
The judge, William T. Cremins Jr., gave the figure to the attorneys representing the property owners, Thomas Santa Barbara and Frank Perrotti, Jr., the developers, New England Estates (NEE) and the town of Branford.
A written decision explaining the judge’s findings is expected to follow soon, possibly this week, and will show how the judge arrived at his figure, what went into his analysis and why.
The $4.6 million figure for the fair market value of the parcel is far less than what the developers sought under an affordable housing argument, but far higher than what the town thought it should pay. Judge Cremins heard the case without a jury last month.
The town set aside $1.167 million as the value of the land, which was seized by eminent domain after the town discovered possible environmental dangers from a nearby contaminated landfill. Appraisers for the developer and the owner put the value of the property between $6.5 and $6.9 million. The owners paid $2.1 million when they purchased the parcel at a bank sale. NEE had an option to purchase the property for $4.7 million, a figure startlingly close to what the judge came up with.
A separate trial by jury on the town’s decision to seize the land is scheduled for August 7. But attorneys may seek a stay of the trial if either side appeals this case.
The fallout from the Tabor case is expected to have political ramifications since the current Selectwoman Cheryl Morris, along with her predecessors John Opie and Unk DaRos, have all had a hand in this case. All are seeking to become First Selectman this November.
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Comments
Posted by: Tyrone Speaks | August 1, 2007 4:02 PM
STAY TUNNED EVERYONE FOR THE NEXT POLITICAL HOT POTATO. WHOEVER IS LEFT HOLDING THE TABOR DRIVE DEBACLE WILL SURELY LOOSE.
Posted by: dman | August 1, 2007 4:54 PM
I am not a Morris/Marcus fan but at least they had the foresight to try to head this off at the pass. Unk sold the RTM a bill of goods based on inference and no FACTS. We were lucky at the first trial but now its time to pay the piper. We had the opportunity to settle this several times and on a judges advice but chose not to. WHY!!! I hope its not too late. In this country you can't steal property from people and get away with it. We should urge our RTM members to settle this before the "ball fields" cost us 15 million, instead of nothing. We still get our ballfields. What are we thinking?
Posted by: Taxpayer Too | August 8, 2007 8:02 AM
Hey DMAN,
You certainly SOUND like a Marcus.Morris fan!!! In addition, THEY did "not head it off at the pass." THEY are the problem, just as they've been for the whole of the Morris, Marcus administration!!! Previous administrations were doing what they KNEW was best for the Town.....not these guys and gals......they only do what's best to line their pockets.............
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