Land Clearance Redevelopment Authority v. Kansas University &, Endowment Ass'n

LOWENSTEIN, Judge.

Appellant Land Clearance for Redevelopment Authority of Kansas City, Missouri (LCRA) is a public body which condemned a downtown Kansas City parking facility, known as the Mutual Garage, leased to the respondent Parking Systems, Inc. (PSI) under a 99-year agreement. PSI had 40 years left on the lease and had purchased the landlord’s interest in the award, so by stipulation PSI is to be considered the owner of the property in question. LCRA disputes the judgment on a verdict of $2,000,-000, principally on the basis of the admission into evidence of capitalization of income or…