Regulatory Takings: Relevant Parcel Under Penn Central Determined By Owners' Economic Use

Wednesday, February 13, 2013 12:00 am
 
Land Use Law Report, Volume 41, Number 2
 

Contiguous parcels purchased in the same transaction shouldn't be considered together in a regulatory takings case if their owner treated them as distinct economic units. That finding could be a boon to a Florida property owner.

Facts: Between 1969 and 1974, Lost Tree Village Corporation (Lost Tree) bought nearly 2,750 acres of coastline property in Florida's mid-Atlantic coast. This land included much of John's Island, which contains some barrier islands and waterways. From 1969 until the 1990s, Lost Tree developed most of its John's Island property, creating an upscale residential community, complete with two golf courses, a beach club, a private hotel, condos, and single-family homes. However, Lost Tree did not develop one 4.99-acre parcel known as Plat 57, which consisted of 1.41 acres of submerged land, 3.58 acres of wetlands and "some upland mounts installed by Florida's ‘Mosquito Control' authority."

In 2002, Lost Tree apparently realized that it owned Plat 57 and that it was suitable for development. The land had never been platted, and "most knowledge people" considered the area to have been completely dev[..]

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