Total Taking by NCDOT
for Completion of I-485

Total Taking by NCDOT </b…

Initial Offer: $324,000

Compensation Obtained: $1,100,000

240% Increase

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).

Principal Damages:

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:

Settlement

County where Tried or Settled:

Mecklenburg County

Case Name and Number:

Department of Transportation v. Perkins, 11-CVS-20449

Date Concluded: 

Settlement reached August 14, 2013.

Attorneys for Defendants:

Thomas L. Odom, Jr. and David W. Murray, The Odom Firm, PLLC of Charlotte.

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