FDOT I-95 Stormwater Pond (Nassau County, FL)

FDOT I-95 Stormwater Pond (Nassau County, FL)

In 2016, Brigham Property Rights Law Firm represented a Nassau County landowners who had held title ownership to an 8.109-acre tract proximate to the I-95 Interchange at SR 200 for over 100 years.  Each successive generation had wanted the next to continue to have ownership in this real property as a family legacy.  FDOT filed an eminent domain case to take the 8.109-acre tract for construction of a new stormwater pond needed for the SR 200 widening and interchange improvements.  The 8.109-acre tract did not front on SR 200, but was a “third tier” property immediately behind existing commercial and lodging uses located at the interchange.  Although property taken must be valued as of the date of taking, the price that a willing buyer and willing seller would agree upon considers the future potential of the property for development.  This case went to a jury trial wherein FDOT’s appraiser estimated value at approximately $2.00/sq.ft., or $653,500, while the landowners’ appraiser estimate value at approximately $10.00/sq.ft., or $3,532,280.  The trial testimony and evidence included an interchange study wherein the landowners’ appraiser showed the differing sales prices at various interchanges along I-95, which also served to compare each interchange, one with the other, in order to show qualitative differences between locations.  The jury awarded the landowners a verdict equal to approximately $8.00/sq.ft., or $2,800,000.

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