Eminent domain can force business owners to relocate and invest in significant renovations, requiring them to prove the property's increased value through improvements to receive fair compensation, while also facing extended timelines before reopening their businesses.
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City STOLE My Property 3 Months After Buying It! #shortsAdded:
3 months after I bought it, the city came to me. They literally sat me down at my own table and they were like, "So, we're going to take your land underneath eminent domain." Oh my gosh.
And I just remember >> approached you before to talk about >> No, they like just "Hey, we need to call you. We need to sit down and talk."
>> Wow. And they had like eight people on staff and I was probably really rude.
I mean, that the way they approached it was really rude. Extremely.
>> I >> Wow. I don't blame them. What are they supposed to do, right? They're doing their job. [clears throat] The building that was taken, which was my building, I had just bought it 3 months prior.
The buildings that were also on the land behind me and next to me, those guys have been there for 30 years.
So, they were ready to retire. They weren't going to fight this, right?
Sometimes you can fight eminent domain.
Most of the times you're not going to win. Mhm. So, there becomes a pivot, right? So, I had probably the 12 businesses that were in that building, we all had to get out. We all had, you know, so much time.
And then uh it's called just compensation. So, I had to prove that because I bought this building, it was worth more because I made it into a collective than the actual purchase price. So, I got a little bit of extra money and I took a year off. I was like, "It, I'm going to go, you know, enjoy my life with my kid.
I'm a full-time, 100% single mom." So, we got to enjoy our lives for an entire year. We went traveling, we went and did all kinds of things.
And then Pike's Peak sold to another couple that had to do a ton of renovation and they didn't know that.
And so, I don't blame them for kind of not going through with it. And then when I got to it, I was told all it needs is paint.
And so, I said, "Okay, I'll sign the lease, you know, I think it's like 8-year lease."
And I get paint and flooring done within 2 weeks. I get the health department in there, and they're like, "Well, actually, you have about a hundred thousand dollars worth of renovation."
Wow.
>> And so that meant new water heater, new hand sinks, new drains, new grease trap, um tore out the entire cabinets in the front, like new counters, uh put in flooring, redid the bathrooms, changed the tile, so many things that had to be done, and it took 6 months of reno Wow.
before we were able to open.
So, finally get open. We've been open [snorts] 2 years in March.
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