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MDHA Files Motion to Dismiss Tower Suit
The following is from the Metropolitan Development and Housing Agency in response to the Lawsuit filed by Tower Music City.
On Thursday, the MDHA filed a motion to dismiss the lawsuit filed by Tower Music City on Nov. 4, 2009.
Key points from MDHA's filing include:
"On January 12, 2007, Tower purchased a parcel of undeveloped property at 301 Fifth Avenue South in downtown Nashville for $14,780,000.
At the time Tower acquired the Property, it was well known (as acknowledged on Tower's own website) that 'the lot is part of a greater land mass on which the Nashville Convention Center wants to build a state-of-the-art facility."
"MDHA, through its counsel, engaged various appraisers to perform appraisals of the different parcels of property in the Convention Center footprint. MDHA was empowered to enter onto the Property for the purpose of making surveys, with or without the consent of the property owner. However, to coordinate activities and as a courtesy the appraisers contacted property owners. The appraisers also requested information that might be useful in generating a fair appraisal. No property owner, including Tower, was compelled to cooperate with the appraisers."
"In the press release it distributed simultaneously with the filing of the present case, Tower described the $14.8 million MDHA has tendered for the Property as 'ridiculously low.' MDHA respectfully disagrees and believes that the evidence in the condemnation action will show that $14.8 million represents a fair offer under current market conditions. MDHA is charged with the responsibility of ensuring fair and just compensation for property owners. In fact, under the Tennessee Constitution and applicable law, MDHA is prohibited from paying more than just compensation for any property."
"The records to which Tower seeks access are subject to the work product protection of the Tennessee Rules of Civil Procedure."MDHA Files Motion to Dismiss Tower Suit
Posted: Thursday, November 5 2009, 03:56 PM CST
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