The town still has to pay "just compensation" for the taking, which would be the market value of the property likely established by the Centex contract, if in fact that was a bona fide deal.
Actually, this is a pretty straight forward land grab by the town and Segal will likely make out just as well either way. Typically, the town would try to depress the land value by limiting use via insidious "ordinances", then try to pay the reduced land value as just compensation only AFTER the landowner brings a case for inverse condemnation. After that is over, the would then revote the ordinances in favor of the developer.
In my opinion, that's the sort of corruption to watch out for in light of the new SC ruling.
>>> town still has to pay "just compensation" <<<
If you want to see how Gov. works. view my #11
Property Rights, Eminent Domain, and the Making of a Citizen Politician - (terrific story!)
http://www.freerepublic.com/focus/f-news/1432842/posts?page=11#11