OMAHA- Elkhorn Public Schools used the land on 180th Street and West Maple Road for their latest high school. But, the district undervalued the land during a condemnation process when the state seized it says a ruling by the Nebraska Supreme Court.
The Court ruled last Friday to uphold the Douglas County District Court's jury decision to award the developer twice as much as the district originally planned to pay. An appraiser for the school district listed the value at only $2.6 million, which is what an Omaha developer had paid for the land four months prior.
The high court also ordered EPS to pay legal fees of $600,000 plus another $143,000 in interest. They noted that this high-traffic area was as valuable as the Village Pointe shopping center. The caveat is that the developer, Tribedo, will have to use the money on making the remaining land marketable.
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