Problem_Set_4 - Department of City Regional Planning University of California at Berkeley CP 1134A Fall 2006 Mark Wolfe PROBLEM SET#4 Due in or

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Department of City & Regional Planning CP 1134A - Fall 2006 U niversity of California at Berkeley Mark Wolfe PROBLEM SET #4 Due in or before Class Thursday, November 28, 2006 1. Last year, real estate impresario Travis Bickle purchased the beautiful but dilapidated 1920s-era Checkercab Hotel in New York City for an “undisclosed sum of money.” This morning, he held a press conference at which he announced plans to demolish the structure and replace it with a 50-story glass-and-steel office tower designed by famed corporate architect Bunshaft Mies van der Gropius. Upon hearing the news, City Planning Czarina Zoe Zonerino springs into action and immediately re-zones the hotel site for “Pre-War Hotel Preservation” uses only, thereby preventing its demolition. Bickle balks, bemoaning the blow to his budding business. He demands that the City of New York pay him full compensation for the loss of economic benefit resulting from the re- zoning, which he estimates to be in the neighborhood of a net present value of $200 million. He shakes his fist and threatens to file a lawsuit if the City doesn’t pay up. Feeling the political heat, Zoe asks you, her trusted advisor, to estimate the actual
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This note was uploaded on 09/06/2008 for the course CP 113A taught by Professor Markr.wolfe during the Spring '06 term at University of California, Berkeley.

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Problem_Set_4 - Department of City Regional Planning University of California at Berkeley CP 1134A Fall 2006 Mark Wolfe PROBLEM SET#4 Due in or

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