Sneezy here. As some of you know, I'm currently in ny. I bought a business here about a month ago, and so far, it's doing all right. I just found out that last week, the city council had a vote on whether they would pretty much tear down multiple business buildings for a waterfront redevelopment. I don't own the land, I just own the business. There are talks about eminent domaining the landlord, thus us.

Now, I've been here a month, and if I get eminent domained... what am I entitled to? There's nothing in the lease about this specifically... and I'm assuming that the city'll start talks about this within a month or two. I know getting the rest of my lease is out of the question, but would I be entitled to at least my equipment/fixtures?

Anything you bought or own in the building will be yours to take, and very likely the landlord will let you take even some of the items in the building, since he will be merely walking away after the city buys it from him. But often these take overs can take months and months to years for the legal issues to be worked out.

Hello S:

Do you want to STOP 'em? I'd LOVE to help you do that. It IS illegal, what they're doing you know.

Now, if they wanted to build a park, or use the land to benefit the citizens in other ways, it would be legal. But, to take from one businessman and give it to another businessman is illegal..

Oh, I know it's been held to be legal by the courts, but the courts should have asked me first. Like the Padre said, you can probably tie them up in court for many years. Meanwhile you can get rich - especially if you fight 'em (and let the papers know).

excon

Do I want to stop them.. well... I'm a bit ambivalent on this issue. Obviously, since I bought a business, I'd rather have it run for a few years before I get "kicked out," but if they're willing to pay me a substantial amount to leave, I wouldn't really complain, since I bought the business for such a cheap value.

I do agree that this doesn't sound very "legal"... well, I'm not sure about legal, but "kosher"... to build a school, a park, what have you, I understand. They want to build a baseball stadium, and better shopping centers, because the current ones are "dilapidated."

It screams gentrification.

Quote:

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Originally Posted by ISneezeFunny

but if they're willing to pay me a substantial amount to leave, I wouldn't really complain, since I bought the business for such a cheap value.

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Hello again, S:

Cool. But, if it doesn't work out, get back to me after you've heard their substantial offer for your dilapidated business.

excon

I'll keep you guys updated.