SpaceX offers local buyouts; Homeowners will have two weeks to respond

[TexasTowelie]

SpaceX says that although it did not initially foresee “significant disruption” to residents of Boca Chica Village when Boca Chica Beach was first identified as a potential spaceport site several years ago, the company now realizes that disruption is becoming increasingly difficult to minimize, and therefore is extending buyout offers to property owners.

In a Sept. 12 letter sent to the less than a dozen residents of Boca Chica Village, also known as Kopernik Shores, the Hawthorne, Calif.-based rocket company expressed its interest in acquiring “certain residential properties ... located in and around the Kopernik Shores area within the designated South Texas Spaceport area at Boca Chica Beach.”

The company is offering property owners three times the appraised value of their properties, offers that are non-negotiable, and owners have two weeks from the date of the letter to decide whether to sell.

“SpaceX sincerely appreciates the tremendous support that it has received from the Boca Chica Village residents and the local community since the groundbreaking of its South Texas launch facility almost five years ago,” the letter reads. “Since then, SpaceX has sought to conduct its operations in a manner that minimizes disruption to the nearby residents of the Village to the extent practically possible.”

Read more: https://www.brownsvilleherald.com/news/local/spacex-offers-local-buyouts-homeowners-will-have-two-weeks-to/article_38623a0c-da5e-11e9-9760-13c6e6bd97ea.html

[customerserviceguy]

1. Three times the appraised value

or three times the assessed value? In many localities, the assessed values are kept down below market value to discourage challenges.

That sounds like a pretty good deal either way, it's better than getting the government to use eminent domain to force a "mandatory buyback".