Nashville Can't Kick $30M Price Tag For Tower Music's Land

Law360, New York (May 2, 2013, 9:32 PM EDT) -- After a lengthy eminent domain dispute, the Tennessee Court of Appeals on Tuesday affirmed a jury verdict directing Nashville's development and housing agency to pay Tower Music City II LLC $30 million for a 5.7-acre piece of land at the site of a new convention center.

The Metropolitan Development and Housing Agency initially valued the property, a parking lot, at $14.8 million, and Tower Music rejected both the value calculation and MDHA's authority to take the property.

A jury eventually settled on a value of $30.4...
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