The dismissal simply states that LUXCOM has
...opted to assert its legal rights against the Village, pursuant to the Bert J. Harris, Jr., Private Property Rights Protection Act as set forth in Fla. Stat. Sec 70.001 ...As part of this document, LUXCOM served the Village of Palmetto Bay with the pre-suit claim and supporting appraisal pursuant to Section 70.001(4)(a) of the Bert Harris Act.
CLICK HERE to download and view the entire 63 page document (2 pages voluntarily dismissal)
There is a document (beginning page 6) entitled "AN APPRAISAL OF THE FORMER FPL CUTLER POWER PLANT SITE LOCATED AT THE NORTHEAST CORNER OF SW 67TH AVENUE AND SW 152ND AVENUE"(Hereafter simply "Appraisal")
LUXCOM appears to be alleging $21,760,000 in damages under Bert J Harris. The important allegation is contained in the Appraisal (Page two of appraisal, overall page eight of 63) that the Bert J Harris damages are projected at $21,760,000 – an excerpt follows:
Based upon the scope of the assignment, our investigation and analysis of the information contained within this report, as well as our general knowledge of real estate valuation procedures and market conditions, it is our opinion that the Retrospective Market Value of the Fee Simple Estate of the Subject Property, as an institutional use, as of July 29, 2019 was:
$34,000,000
It is also our opinion that the Retrospective Market Value of the Fee Simple Estate of the Subject Property, considering the land and zoning use to Estate Density Residential, as of July 30, 2019 was:
$12,240,000
Based on these two valuations, it is our opinion that the damages claim for the “Bert J. Harris, Jr., Private Property Rights Protection Act”, as of July 30, 2019 was:
$21,760,000
I need more time to review, so updates will follow. I want to get this information out for public discussion. This is an interesting development. We will see the reaction from the Village. I look forward to a strong and spirited defense.
This frivolous 21 million dollar lawsuit filed by developer LUXCOM, is a desperate attempt to recoup their losses for purchasing an over-priced property from FP&L. They can’t get the carte blanche development they dreamed of, so they abuse the legal system, which only hurts the residents of Palmetto Bay. Our Council is doing exactly what we elected them to do: approve “smart development”, rather than allowing builders to get the most bang for their buck by degrading our quality of life.
ReplyDeleteBut the village knew this was going to happen. They could have purchased the property from fpl and converted it to a park. Now we have to spend millions defending a lawsuit
ReplyDeleteGreat idea. But no way was the Village going to purchase a $33-$60 million contaminated property. (A) we don't have the money, and (B) who in their right mind would want to own a property laden with heavy toxic metals in the soil, groundwater, and canal?
ReplyDeleteWell let's see Luxcom bought the land for $35million. So FPL, which own the land and probably had $0 basis in would be due to pay taxes on $35million. But who know FPL probably doesn't pay taxes anyway. However it seems if perhaps PB, Coral Gables and the county could have worked together, with the right incentives, that price could have been a lot lower. And why could FPL not be held responsible for the clean up ... is that considered communism these days?
DeleteAccording to DERM, FPL is actually still responsible for the contamination, even though they sold the property. I love your idea of working together to purchase a property, but FPL wasn't interested in making this easy for the residents. Also, it's hard enough to get our Council to work together, while expecting three different municipalities to work together on a private land use issue.
Delete