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TCAD, Circuit of the Americas reach settlement
Tuesday, March 1, 2016 by Nora Ankrum
The Travis Central Appraisal District and Circuit of the Americas have reached a settlement in a lawsuit regarding market valuations of the Formula One racetrack over the last three years. “Relying on their respective independent appraisers and seeking to limit the cost and uncertainty of further litigation, both COTA and TCAD were able to arrive at mutually agreed upon values,” according to a press release from Perdue Brandon Fielder Collins & Mott, the firm representing TCAD. The release goes on to say that the settlement values – $127,289,991 for 2013, $110,000,000 for 2014 and $116,210,009 for 2015 – “are more reflective of the actual performance of the property and therefore its true market value.”
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