Mount Pleasant to offer 140 percent market value buying homes for Foxconn

RACINE COUNTY, Wis. (CBS 58) -- Mount Pleasant released a statement Wednesday, saying all homes purchased to make room for Foxconn will be offered 140 percent of market value.

The statement also said the village had acquired 1700 of the 2800 acres necessary. But several homeowners say they aren't going down without a fight. A group of residents has sued the village, over the expected use of eminent domain to take over the land, and many others have hired attorneys to negotiate the price with the village.

Ronald Hoegsted says he didn't want to fight the village on selling his house, but he doesn't like it.

"We've been there 36 years, and we really don't want to move," Hoegsted said. "We planned on staying there the rest of our lives. I'm 71-years-old, and I didn't want to move."

Many of the others in the area said they didn't want to talk to CBS 58 news on camera because of advice from their attorneys, but some were concerned about who is ultimately setting the "fair market value." Hoegsted says he hopes he gets a good deal from the village.

"I'm not done remodeling [the house,] and when I'm done remodeling it, it will be worth a heck of a lot more money than it is now," Hoegsted said. "So we don't know if we're going to get fair market value or not."

The Village of Mt. Pleasant also declined to talk to CBS 58 news on camera regarding the process. Residents said they would like to see more transparency from the government on when they will get offers from the village, and how much they will be worth.

"They came along, and they're just going to take our house away from us, and the bad thing about it is they don't tell you anything or let you know what's going on," Hoegsted said. "They just do whatever they want to do."