Homeward Bound, Inc. v. Anchorage School District

OPINION

MOORE, Justice.

This appeal presents two questions. The first is whether the owner of land designated a school site by the Anchorage Municipal Assembly may compel the Anchorage School District to consummate the purchase. If not, the’ second question is whether the property owner may recover from the Municipality of Anchorage damages equal to the property’s diminution in value resulting from the temporary designation.

I. FACTUAL AND PROCEDURAL BACKGROUND

Homeward Bound owned a twenty-five acre parcel of land in east central Anchorage. Homeward Bound initially sought to rezone the property…