Claims worth more than $250 million have been filed in Portland, Oregon, where a law passed in 2004 allows property owners to file for compensation from the city when regulations reduce the value of their property.
"Measure 37, approved by voters in 2004, allowed landowners to file claims for compensation for decreased property value caused by regulations. The influx was prompted by a Dec. 4 deadline to claim past damages."
Property owners have file claims totaling more than $250 million. The majority of those filing claims are wealthy land owners.
"The claims undermine the city planning process and could 'change the face of the city,' said Chris Dearth, who heads the city's Measure 37 program."
FULL STORY: Measure 37 hammers Portland
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