BUSINESS RELOCATION AND REESTABLISHMENT

This presentation discusses how businesses are to be compensated for lost patronage and revenues due to the fact that they have to be relocated and therefore have to reestablish the business. It is in our economic interest to retain businesses. Article 1 of the Louisiana Constitution Mandate reads in part: In every expropriation, a party has the right to trial by jury to determine compensation, and the owner shall be compensated to the full extent of his loss. Appraisers have defined full extent in accordance with various court rulings to read: Generally, the amount of money required to place the owner in the same pecuniary (financial) position as they enjoy prior to the taking. This is done by finding a comparable that meets or exceeds the business demands or can be accommodated to meet these demands. If this comparable cannot be found, compensate businesses by valuing a site and cost of new construction. If the coast of re-establishing the business exceeds the value of the business, then pay the value of the business.

Language

  • English

Media Info

  • Pagination: p. 102-108

Subject/Index Terms

Filing Info

  • Accession Number: 00789594
  • Record Type: Publication
  • Files: TRIS, USDOT
  • Created Date: Mar 22 2000 12:00AM