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Post by sushi on Mar 17, 2008 5:49:46 GMT -6
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Attorney: Brach-Brodie claim could top $20M
Dispute over land parcel rages on today in court
March 17, 2008
By Tim Waldorf twaldorf@scn1.com
Damages sought by the Brach-Brodie trust in response to Indian Prairie School District 204's abandonment of its condemnation suit could top the purchase price returned this fall by a DuPage County jury.
Both sides of this dispute are due in court today.
Once there, the Brach trust likely will seek a continuation for researching their claim, said Edward Donovan, attorney for the Brach trust.
But Steve Helm, attorney for the Brodie trust, said he expects to ask the court to require District 204 to purchase the remaining 55 acres of the 80-acre site it had selected as the location of Metea Valley High School, and do so at the $31 million price a jury determined to be fair this fall.
If the court denies that request, Helm said he intends to file a claim seeking about $12 million in damages.
The claim would be for reimbursement of about $3 million of attorney fees and witness costs associated with this condemnation case and with the 2003 case in which the district purchased from the trust the 25 acres it now owns.
The claim also would seek reimbursement for any reduction in value to trust-owned properties due to the district's condemnation suit. Helm said the jury already determined the trust was due $2.5 million in damages for the less-than-market value price at which it sold a neighboring 71-acre parcel to a developer.
But Helm said his clients intend to seek reimbursement for the $6 million to $8 million difference between the price at which the trust could have sold the 55-acre parcel in 2005, when the condemnation case was initiated and other developers were interested in purchasing it, and the price at which the trust believes it could sell the property in today's real estate market.
These would only be the damages sought by the Brodie trust; the Brach trust would still have to file its claim. Helm said he could see the overall damages claim against the district exceeding $20 million.
Of course, the court will determine how much in damages the district might have to pay, but "if they buy the property, then all of that goes away," said Helm, noting that his client was still interested in selling to the district.
District 204 now intends to purchase 87 acres at Eola and Molitor roads for a reported $16.5 million, and build the 3,000-seat high school there.
Helm said he has represented other clients when governmental bodies have tried to take their property but ultimately abandoned their condemnation suits.
"And they end up with a big bill and no property, and it just seems like it's not the best use of taxpayers' money," he said.
He said he hopes District 204 will get the Brach-Brodie property.
"By the time you start looking at some of the costs ... I think Brach-Brodie starts to look, at least to me, like a pretty good site, even at the jury verdict," he said.
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Post by spousestonethrow on Mar 17, 2008 6:21:54 GMT -6
THE NOOSE IS GETTING TIGHTER AND TIGHTER. By the time we pay damages we could just go ahead and purchase BB. At this point the SB and 204 Admin has to be taking a step back and reaccessing our options. This is just getting more and more ridiculous by the day.......I know Sushi.....they are doing their best, making decisions in the best interest of our children and it all boils down to NSFOC and their bad intentions!
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Post by spousestonethrow on Mar 17, 2008 6:46:05 GMT -6
-------------------------------------------------------------------------------- Attorney: Brach-Brodie claim could top $20M Dispute over land parcel rages on today in court March 17, 2008 By Tim Waldorf twaldorf@scn1.com Damages sought by the Brach-Brodie trust in response to Indian Prairie School District 204's abandonment of its condemnation suit could top the purchase price returned this fall by a DuPage County jury. Both sides of this dispute are due in court today. Once there, the Brach trust likely will seek a continuation for researching their claim, said Edward Donovan, attorney for the Brach trust. But Steve Helm, attorney for the Brodie trust, said he expects to ask the court to require District 204 to purchase the remaining 55 acres of the 80-acre site it had selected as the location of Metea Valley High School, and do so at the $31 million price a jury determined to be fair this fall. If the court denies that request, Helm said he intends to file a claim seeking about $12 million in damages. The claim would be for reimbursement of about $3 million of attorney fees and witness costs associated with this condemnation case and with the 2003 case in which the district purchased from the trust the 25 acres it now owns. The claim also would seek reimbursement for any reduction in value to trust-owned properties due to the district's condemnation suit. Helm said the jury already determined the trust was due $2.5 million in damages for the less-than-market value price at which it sold a neighboring 71-acre parcel to a developer. But Helm said his clients intend to seek reimbursement for the $6 million to $8 million difference between the price at which the trust could have sold the 55-acre parcel in 2005, when the condemnation case was initiated and other developers were interested in purchasing it, and the price at which the trust believes it could sell the property in today's real estate market. These would only be the damages sought by the Brodie trust; the Brach trust would still have to file its claim. Helm said he could see the overall damages claim against the district exceeding $20 million. Of course, the court will determine how much in damages the district might have to pay, but "if they buy the property, then all of that goes away," said Helm, noting that his client was still interested in selling to the district.District 204 now intends to purchase 87 acres at Eola and Molitor roads for a reported $16.5 million, and build the 3,000-seat high school there. Helm said he has represented other clients when governmental bodies have tried to take their property but ultimately abandoned their condemnation suits. "And they end up with a big bill and no property, and it just seems like it's not the best use of taxpayers' money," he said. He said he hopes District 204 will get the Brach-Brodie property. "By the time you start looking at some of the costs ... I think Brach-Brodie starts to look, at least to me, like a pretty good site, even at the jury verdict," he said. I say purchase BB and start building. But I bet our SB in all their infinate wisdom will roll the dice again (at our expense) and come up the loser. |
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Post by casey on Mar 17, 2008 7:04:08 GMT -6
Given all the facts (BB walk-away costs, potential health hazards at MWGen, long-term litigation issues at MWGen, debate over who's paying for clean-up of site at MWGen, NSFOC lawsuit, etc.) I'd think the SB would recognize that BB is the only solution. It's time for them to pull the plug on Eola. The risks are just simply too great.
Deal TODAY on BB. It's pretty clear that at least one of the trusts wants to deal. This could be over today if the SB/SD would swallow their pride and finalize BB. At this stage I think the BB costs will ultimately be lower than the Eola costs. We need Dr.D to use his expert negotiation skills ;D and finalize BB. Any chance of that happening? I just don't think there's another answer.
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Post by sushi on Mar 17, 2008 7:10:50 GMT -6
I dont see any dealing on BB. Helm stated he expects full price. I just don't know where this will end. Also, what about vacating the Eola property - damages for that, too? Maybe it would be a wash. It has just been one screwup after another and Helm is feeding on the NSFOC hysteria; they have handed him damages on a silver platter.
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Post by doctorwho on Mar 17, 2008 7:13:35 GMT -6
I dont see any dealing on BB. Helm stated he expects full price. I just don't know where this will end. Also, what about vacating the Eola property - damages for that, too? Maybe it would be a wash. It has just been one screwup after another and Helm is feeding on the NSFOC hysteria; they have handed him damages on a silver platter. You blame is misguided - your SB-SD handed him these charges - not the NSFOC- which just pointed out the things they did wrong. Do you think the judge will be swayed by polls and petitions ? No they go based on facts - which is why we've lost every decision so far --- You can blame who you want- but the facts are what the facts are-- you don't think Helm had all the same info - and probably more than the SB has even told us up to now ? |
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Post by WeBe204 on Mar 17, 2008 7:14:21 GMT -6
I dont see any dealing on BB. Helm stated he expects full price. I just don't know where this will end. Also, what about vacating the Eola property - damages for that, too? Maybe it would be a wash. It has just been one screwup after another and Helm is feeding on the NSFOC hysteria; they have handed him damages on a silver platter. I certianly agree that before we believe anything that BB says we need to hear from both sides of the BB. They are certainly on different pages. I think we need to wait for the judge to decide. |
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Post by Arch on Mar 17, 2008 7:18:18 GMT -6
Put me in a room w/ all parties, and we'll come up with the land and start building.
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Post by sushi on Mar 17, 2008 7:20:19 GMT -6
I am not trying to blame as much as to say that NSFOC placed the chum in the water and the BB Trust is feeding off it.
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Post by doctorwho on Mar 17, 2008 7:24:44 GMT -6
I dont see any dealing on BB. Helm stated he expects full price. I just don't know where this will end. Also, what about vacating the Eola property - damages for that, too? Maybe it would be a wash. It has just been one screwup after another and Helm is feeding on the NSFOC hysteria; they have handed him damages on a silver platter. I certianly agree that before we believe anything that BB says we need to hear from both sides of the BB. They are certainly on different pages. I think we need to wait for the judge to decide. I agree it will be a judge who decides - and my opinion is nothing on this board, in a Sun Poll, in a survey monkey - or from the NSFOC is going to decide this case -- it has a 2 year history of transactios and filings and appeals and condemnations to look at for the decision. |
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Post by d204mom on Mar 17, 2008 7:52:48 GMT -6
But Helm said his clients intend to seek reimbursement for the $6 million to $8 million difference between the price at which the trust could have sold the 55-acre parcel in 2005, when the condemnation case was initiated and other developers were interested in purchasing it, and the price at which the trust believes it could sell the property in today's real estate market.
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Brach attorney Simon was framing the case for this in January, don't see Collin's suit to have anything to do with these claims. Everyone thought Simon was asking to sit down and deal when he said that the land is not worth as much now as it was back in 2005; I always thought it was a set-up for additional damages.
Think about it - they have an IRON CLAD valuation as of Dec 22 2005 of $518/acre.
Those same experts' valuation will come back and say it's worth less today.
I don't think PREIT has closed yet. If they back out... more damages?
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Post by doctorwho on Mar 17, 2008 7:56:47 GMT -6
But Helm said his clients intend to seek reimbursement for the $6 million to $8 million difference between the price at which the trust could have sold the 55-acre parcel in 2005, when the condemnation case was initiated and other developers were interested in purchasing it, and the price at which the trust believes it could sell the property in today's real estate market. ------------------------------------------------------------------- Brach attorney Simon was framing the case for this in January, don't see Collin's suit to have anything to do with these claims. Everyone thought Simon was asking to sit down and deal when he said that the land is not worth as much now as it was back in 2005; I always thought it was a set-up for additional damages. Think about it - they have an IRON CLAD valuation as of Dec 22 2005 of $518/acre. Those same experts' valuation will come back and say it's worth less today. I don't think PREIT has closed yet. If they back out... more damages? If Preitt claims they based ANY part of their decision to build a lifestyle mall there due to 3000 HS students being across the road - I would think so. |
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Post by d204mom on Mar 17, 2008 7:59:19 GMT -6
Of course, the court will determine how much in damages the district might have to pay, but "if they buy the property, then all of that goes away," said Helm, noting that his client was still interested in selling to the district.
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It's quite obvious to me that BB is not dead.
Don't know why so many are clammoring that it is?
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Post by spousestonethrow on Mar 17, 2008 8:11:22 GMT -6
Not sure how much AME needs to get their church built, but no lose situation for them. I am certain that we will have to pay damages (sizeable) if we vacate the AME deal. Thanks SB!
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Post by Arch on Mar 17, 2008 8:12:55 GMT -6
Is there not anyone in this district that can stop throwing sand from across the lines and step over them and say "Look, I'm sorry for the crap in the past that we put your estates through. We as a district are sorry. Can we please work this all out so we are all happy?"
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