Real Estate & Property Law

Tacoma Port Withdraws From Lawsuit

By Alan Ackerman

The News Tribune

Johnson said that he hopes the port won't need to condemn property in the future. 'I don't like eminent domain, period,' Johnson said. 'My goal is to see if we can't do development without using that as a tool.'

The port's real estate strategy has changed as the global economy has slowed. In the two years prior to announcing its deal with NYK, the port bought more than 1,000 acres of land, spending $110 million.

The owners won the right to maintain their properties, at least in the short term.  In Tacoma the port owners aggressively fought the condemnation.  However, the reality here was that the Port of Tacoma recognized there was no need and therefore no reason to spend the funds necessary to acquire. 
 

Full post as published by National Eminent Domain Blog on March 01, 2010 (boomark / email).