21
1
percentage inducement element could
be distorted by paper sales of large
Letter B holdings for artificial prices.
A fixed sum inducement was considered
•
too arbitrary In either case, moreover,
the system would have the disadvantage
of being pegged to Letter B values, which,
as stated above, are subject to contin-
gencies irrelevant to the movement of
actual land values.
Conclusions Regarding the Compensation Rate
4.2
Ideally, to meet its own criteria, it was
desirable for the Working Group to establish a method of
assessing compensation rates. It should be possible at any
time to draw up a sheet containing the relevant particulars
relating to any lot and to deduce from them a compensation
payment in accordance with a prescribed method. However,
after consideration of the merits and demerits of the
many systems discussed, it became clear to the working
Group that it would be impossible to meet this ideal.
Nevertheless, the Working Group noted that from whichever
angle the compensation rate had been looked at, the
results produced figures of between $22 and $29 per
square foot. Figures somewhere between these limits
were substantially above the level of cash compensation
($17 per square foot) offered under the existing
/exchange