Category: Fair Market Value

Partner Darius Dynkowski Featured on dbusiness magazine “View From the Top” podcast!

“View From the Top” Ep. 31 from Specs Howard TV on Vimeo.

Many hurdles remain if Michigan and Ontario are to build a bridge over the Detroit River connecting Detroit and Windsor, not the least of which is acquiring homes and businesses at fair market value in the affected area near I-75 and Dragoon, says Darius Dynkowski, a partner with Ackerman Ackerman & Dynkowski in Bloomfield Hills, a law firm specializing in eminent domain.

Fair Market Value in a Down Market

These are difficult times to ascertain values. Residential values have fallen from 30 to 60 percent of the “abnormal” peaks seen a few years ago. In the past six months, previously flat retail/commercial rental rates have fallen as much as 35 percent in many areas. The decrease leads to even more substantial losses in value, given the retention of fixed costs in the face of decreasing variable rents.

In the condemnation setting, most jurisdictions utilize a date of taking premised upon the date in which title vests. Jury instructions contemplate the valuation as of a specific date. This presents a situation in which the potential for a much lower value, premised upon the value of a specific property on a specific date, exists. Yet, for the parties, precise relocation as of the date does not occur.

Click here to read the full article.

MBS pays $1.23 million in land settlement

MBS International Airport will pay $1.23 million to settle a land dispute with a Freeland man whose land the airport wants for its new passenger terminal project.

The case between Ronald Krauss and the airport went to trial for two days last week, but the trial was cut short when the two sides reached agreement. The settlement was recorded in Saginaw County Circuit Court Tuesday morning after the MBS International Airport Commission agreed to it in a closed session Monday. The $1.23 million includes money for the land as well as attorney and witness fees.

Click here to read the entire article.