Gyrodyne Eminent Domain Victim Gets Justice
In 2005, the State University of New York at Stony Brook had the state government seize the property known as Flowerfield in St. James and Stony Brook, Long Island New York.
The 245 acres were to be used for a Center of Excellence in Wireless Information Technology. The state paid US$26,315,000 for the parcel which Gyrodyne accepted as a down payment towards just compensation as provided for by the Eminent Domain Procedure Law (EDPL). This June the Court of Claims ruled that the state must pay an addtitional $98,685,000 plus interest, as reported in a Gyrodyne news release as well as the Long Island media such as Newsday. http://www.gyrodyne.com/recentnews_view.php?id=41.
I had previously commented on this matter when some dissident stockholders complained about the firm's efforts to obtain just compensation. http://www.groundreport.com/Politics/Gyrodyne-Investors-Criticize-Eminent-Domain-Defens/2838695
As a Libertarian Party of New York www.ny.lp.org leader with a particular interest in eminent domain, I am pleased to see that this victim of eminent domain has received justice.
Real justice however, would be the restoration of the land to its rightful owner Gyrodyne and the rejection of the subordination of property rights to the power of the State.
SUNY-Stony Brook is not the only educational institution with designs on its neighbors. My alma mater, Columbia University has used the nefarious Empire State Development Corporation to seize the land from neighbors in West Harlem in order to create a new Science Campus. Columbia University Obtains Eminent Domain Land Grab In Harlem http://groundreport.com/articles.php?id=2877150 . Unfortunately, the New York State's statist courts have backed these moves. -30-
Similarly, St. Luke's Pentecostal Church in New Cassel was able after the efforts of myself, the Libertarian Party and the Institute for Justice, to receive more money in compensation for the demolition of the building they intended to renovate and the land expropriated by the Town of North Hempstead's urban renewal scheme, which is now in the news again. "North Hempstead NY Urban Renewal Schemers Indicted http://
groundreport.com/articles.php?id=2926499." What they really wanted however, was their land.
Gyrodine Eminent Domain Victim Gets Justice
Tags: Eminent Domain , Gyrodyne , Flowerfield , Manhattanville , West Harlem Eminent Domai , SUNY-Stony Brook , Atlantic Yards , New Cassel
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