HILLSBORO, OR-City officials here want a former Albertson’s store property for their new police precinct, and they are prepared to use whatever method necessary to get it. The city has reportedly offered the Florida-based property owner $2.4 million for the property, but also has said that if negotiations fail it is prepared to use the power of eminent domain to expropriate the property at Southeast 10th Avenue and Baseline Street.

Meanwhile, real estate sources say Hillsborough Oregon Associates, the Florida-based real estate partnership, has been offered $3.4 million for the land by Walgreen Drug Stores. The city’s offer expires Jan. 8. If the two sides don’t reach agreement, the City Council is expected to pass an ordinance authorizing condemnation of the property using its eminent domain authority. The procedure requires a judge to look at appraisals, conduct a trial and determine the amount the city must pay as fair market value to acquire the land.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.