Posted on 08/23/2016 11:25:15 AM PDT by ColdOne
The bill, authored by Senator Andy Vidak (R-Hanford), will give previous owners of property, once thought to be in one of the many proposed paths of High-Speed Rail, the opportunity to buy it back if the state is selling it.
The new law will require the High-Speed Rail Authority (HSRA) to notify previous property owners when it plans to sell unneeded property, then wait 30 days before selling it.
(Excerpt) Read more at abc30.com ...
That ridiculous pos rail project is the biggest joke in the world.......Once it became evident it could not be self funding as required by the initiative the courts should have killed it.....but noooooo its Mexifornia
It will never be built.
Per Willie Green, if they’re now talking about selling land to pay off the debts, its going nowhere.
More like the slug train.
Ponder this - the same people who believe something as complex as a high speed rail line is possible think the exact opposite for a simple wall.
Yet another reason the people and press coined governor Brown, “Gov. Moonbeam”...
Idiocracy film prequel is modeled after Jerry’s California reign.
RE; “That ridiculous pos rail project is the biggest joke in the world.......Once it became evident it could not be self funding as required by the initiative the courts should have killed it.....but noooooo its Mexifornia”
They spent billions trying to build a train no one wants to ride but they don’t want to build a wall to keep infiltrators out of the country.
Its all about priorities.
A goofball project that served no public purpose other than to potentially fill the coffers of unions whose fiduciaries have forever figured on an 8% ROI in a world of 1% returns.
Half a dozen people out of the phonebook could have reached the conclusion that the project was silly in an afternoon of coffee and donuts.
Instead, undoubtedly the state of CA spent untold millions hiring consultants, surveyors, escrow personnel, running special elections, and renting space and hiring staff and creating ginat piles of gobbledygook nonsense.
Of course there isn’t the slightest guarantee that those folks who land was bought for right of way will pay what they received as purchase prices. Those pieces of land are quite likely non-divisible and landlocked....long narrow strips useful for nothing. I would pay 30%, tops, to buy my land back.
The folks who came up with this vapid rapid rail plan and pushed it are reason enough to bring back public executions.
I assume (probably incorrectly) that the sale price BACK to the original owner would be at the price the original owner sold for? No market correction, no additional price? Otherwise I can see the State forcing sales of property, then selling it later for a profit...
I could guarantee that the state will mark it up.
I worked at a bike shop in little ole Bowling Green, KY while in college. The city wanted to widen a side street next to the shop and eminent domain’ed an empty lot connected to the shop property AND the shop’s parking lot.
The owner complained they didn’t need that much land and they offered too cheap a price. The road building only took 10 feet out of the lot. At the end of the project, the city offered the lots back to him at FOUR times what they gave him for them. He settled for three times what they gave him.
Their logic was that he was now on a more highly travelled road so it was worth more. It was really extortion.
;)
Spoke with the auto gnome and a techie ( nothing proprietary discussed, our usual what if discussions, especially legal and social ramifications therein ) about driver-less auto's. I brought up the concept of supplanting public transportation with these cars, it is real IMHO. And ditto that these stooopid high speed rails no one wants to no-where.....
Nominating for post of the day. These railway projects are nothing more than a looting mechanism for politicians and their cronies. Nothing gets built right or on time. They are always underfunded and lack decent rider counts. And look, wow, they now need to subsidize them with a penny tax or a new soak-the-rich tax. Perpetual motion ATM.
They can salvage part of the project by converting the train path to a bicycle path. At least the properties will be used for transportation. Maybe not as fast as originally envisioned. But the environmentalists will be pleased.
indeed
Legalized theft. Pure and simple...
What a windfall for the politically connected. I wonder how many democrats will make their fortunes on this boon doggle? Just like Harry reid. Manages to buy property for pennies an acres then miraculously a government dictate went in to effect making it worth millions. Amazing coincidence.
That was my question.
Eminent domain is wonderful until it turns into the projects, and the landholders get hosed.
Kinda like the bond holders in the GM CH 11.
Lotsa people lost money., but hey, most of them were white, and Wall St. Bankers. No biggie, right Barry?
5.56mm
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