Maryland is prepared to pay nearly double the appraised value of a Silver Spring property to allow for the construction of the Purple Line.
The state’s Board of Public Works will vote Wednesday on the $1.6 million purchase of about one acre of land on Brookville Road. The property was appraised at $845,100.
The acquisition of the property essentially eliminates an access road to an adjacent property also owned by Brookville Ventures. The property owner asked for a higher price because it would have been temporarily landlocked until new access to its property could be developed.
“They argue that they will have to place the business on hold while continuing to pay the mortgage and property taxes even though they will not have continued to use of the property until such a time when access can be restored through redevelopment,” the Maryland Department of Transportation said.
The Maryland Attorney General said the counter-offer of $1.6 million was “reasonable,” because an alternative plan could have called for the state to acquire additional land to build a new access road.
This settlement also allows the property to be acquired without delay. The agency said it does not have “quick take” power that would have allowed it to acquire the property right away while negotiations on price could continue.