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Hennepin County, MN

Minneapolis, MN: (Sep-11-07) Hennepin County made an offer of settlement of $19.3 million plus incidental fees and costs in the litigation over the value of the land on which the new Twins Ballpark will be built. The county made the offer to Land Partners II, the owner of the parking lot where the ballpark is being built, and Hines Interests Ltd., a Texas-based real estate developer.

In an earlier settlement offer made, the landowners offered $33.2 million based on a suggestion by Larry Tucker, a dissenting member of the three-member condemnation panel that determined a value in an eminent domain proceeding. The county sued the landowners to acquire the land through condemnation, and the panel put the value at $23.8 million in an Aug. 20, 2007 ruling. Tucker disagreed and submitted a minority opinion. One of Hennepin County's appraisers had valued the land at $17.2 million, and the landowners wanted $65 million. The current offer of over $19.3 million stands to end the eminent domain lawsuit. Sources claim that if a settlement is not reached, the landowners may appeal the condemnation ruling. [MINNESOTA BUSINESS JOURNAL: BALLPARK EMINENT DOMAIN]


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Published on Sep-16-07


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