A Superior Court judge has determined that the 77 acre Tabor property was worth $4.6 million on January 6, 2004, the day the town seized the property under eminent domain law.
The judge, William T. Cremins Jr., gave the figure to the attorneys representing the property owners, Thomas Santa Barbara and Frank Perrotti, Jr., the developers, New England Estates (NEE) and the town of Branford.
A written decision explaining the judge’s findings is expected to follow soon, possibly this week, and will show how the judge arrived at his figure, what went into his analysis and why.The $4.6 million figure for the fair market value of the parcel is far less than what the developers sought under an affordable housing argument, but far higher than what the town thought it should pay. Judge Cremins heard the case without a jury last month.The town set aside $1.167 million as the value of the land, which was seized by eminent domain after the town discovered possible environmental dangers from a nearby contaminated landfill. Appraisers for the developer and the owner put the value of the property between $6.5 and $6.9 million. The owners paid $2.1 million when they purchased the parcel at a bank sale. NEE had an option to purchase the property for $4.7 million, a figure startlingly close to what the judge came up with.A separate trial by jury on the town’s decision to seize the land is scheduled for August 7. But attorneys may seek a stay of the trial if either side appeals this case.The fallout from the Tabor case is expected to have political ramifications since the current Selectwoman Cheryl Morris, along with her predecessors John Opie and Unk DaRos, have all had a hand in this case. All are seeking to become First Selectman this November. ###