Jamestown Associates v. Fulton County Board of Tax Assessors

Judge Harold R. Banke.

The following salient facts are not in dispute. On July 24, 1991, Jamestown Associates (“Jamestown”) filed suit against the City of Atlanta (“City”) and the City of College Park asserting that the flight operations of Hartsfield International Airport had so severely damaged the economic use and value of its apartment complex as to constitute inverse condemnation and a taking. Several years later, Jamestown and the City entered into a settlement agreement in which the City agreed to pay $1,175,000 in exchange for a deed to the property. On December 30,1994, a real estate…