The question is why not a requirement in this case for 150% of replacement cost.
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Submitted by Lyle (United States), Sep 13, 2011 16:05
It's interesting that in one sense the issue may be just the price of the property to be paid, I suspect that if you offer most folks enough money they will sell out, however it's clear that for example the church under Citigroup's headquarters is not among them. My solution is to pay 150% of replacement cost to the homeowner. With that they could get as good a house and likely better. Never discussed in these cases are the offer and counter offer that went on before the condemnation, was the city a stickler to not pay more than the condemnation cost? But then having lived many places, for enough money I would move.
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