Eminent domain***
I’m not going to lie, business hasn’t been great but we’ve been managing to do a little better than break even for the last year. Now I got notice from the building owners that the city is using eminent domain to take our complex plus adjacent ones to build a large public transport hub.
Apparently the city is giving up to 40k to tenants to help them relocate, but 40k doesn’t even come close to covering a new build out to suit our needs. It’s a light manufacturing business, we need extra air conditioning to offset the heat from the machines, extra plumbing, exhaust systems… our current spot is 4800sqft and we’re paying $9/sqft +nnn which is well below market rate because we’ve been here for a decade. A new spot is going to cost at least $20/sqft +nnn, if not $30.
What can I do as a tenant? Is it even an option to fight the city for a bigger relocation reimbursement?
submitted by /u/fedlol
[link] [comments]
