Appeals court says Metro owes $30 million for land
NASHVILLE, Tenn. (AP) - The Tennessee Court of Appeals has upheld a jury verdict that forces Metro Nashville to pay $30 million for the city's use of a piece of property that is located at the site of the new convention center. The ruling involves 5.7 acres that was owned by Tower Investments.
City officials sought the land through eminent domain and offered the company $14.8 million.
The company sued saying that the land was worth vastly more. A Nashville jury agreed with Tower and decided the land was worth $30 million. Metro officials appealed the verdict and the decision of Davidson County Circuit Court Judge Joe Binkley Jr. to let the jury's verdict stand.
The Court of Appeals on Wednesday said the jury awarded the company fair market value for the land.