Troutman Sanders LLP expected to do well by doing good for the city of Richmond.
The law firm agreed to build its new office building on the James River in exchange for an abatement in the taxes on the increase in the assessed value of the property after the project was completed.
The city in return would have a centerpiece and incentive for additional development along Brown’s Island and its Canal Walk.
But the firm and the city had different ideas about how the abatement would be determined. Their difference of opinion has the two sides sparring before the Supreme Court of Virginia.
Subscribers to Virginia Lawyers Weekly can read the full story here.