As we mentioned in our recent 2012 Eminent Domain Year in Review, we've seen a boom of infrastructure projects in California -- a trend we expect to continue into the near future. So what exactly are we talking about? Here's just a few examples:
- California Transportation Commission's $64 Million Allocation: According to a Caltrans press release, the California Transportation Commission (CTC) recently allocated $64 million to 43 projects that will reduce traffic congestion and repair highways, local streets, and bridges. You can find a list of the projects ...
Here's a new one. Imagine you have a government agency as your tenant, paying above-market rent, and the lease is set to expire. The government tells you they're going to move to a new site, but they need to hold over for a while until the new site is built. You figure, fine, the parties will just continue with the same rental rate until the government tenant moves. Hey, what other option does the government have? It would be incredibly expensive to find a temporary site and do a temporary move until the permanent relocation site is finalized.
This logic may work with any typical private-market ...
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