February 7, 2016

SO MARKET VALUE WAS AT LEAST $1 MILLION:

Donald Trump really did try to take an elderly widow's house for a limousine parking lot (Timothy B. Lee, February 7, 2016, Vox)
 
One of the testiest exchanges in last night's Republican presidential debate came when Jeb Bush accused Donald Trump of trying to take the home of an elderly woman to make room for a limousine parking lot in Atlantic City. [...]

Trump's battle with Atlantic City resident Vera Coking in the 1990s is the ultimate example of this kind of Robin-Hood-in-reverse development scheme. Coking had lived in her home since the 1960s, and had turned down another developer's $1 million offer for her house in the 1980s.

In the mid-1990s, Trump tried to persuade her to sell her hom to make room for a parking lot for the Trump Plaza Hotel and [*****], which was located next door. When she refused, Trump got Atlantic City's [*****] Reinvestment Development Authority to threaten to take the property using eminent domain. If she'd accepted the offer, she would have gotten $250,000 -- a quarter of the price she was offered a decade earlier.

Posted by at February 7, 2016 5:32 PM

  

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