Total Taking by NCDOT for Completion of I-485
Initial Offer: $324,000
Compensation Obtained: $1,100,000
Brief Statement of Claim:
The Department of Transportation took approximately 4.713 acres for completion of roadway improvements related to the completion of the I-485 loop around Charlotte; deposit of $324,000; settlement of $1,100,000 ($776,000 or 240% increase).
A total taking of 4.713 acres of residentially zoned land being used for residential purposes. The highest and best use of the property was commercial and the property had a high likelihood of rezoning.
Trial or Settlement:
County where Tried or Settled:
Case Name and Number:
Department of Transportation v. Perkins, 11-CVS-20449
Settlement reached August 14, 2013.
Attorneys for Defendants:
Thomas L. Odom, Jr. and David W. Murray, The Odom Firm, PLLC of Charlotte.