Businessman Thinks Ky. Owes Him More For Property

One reason his property was valued so low, he said, was that it was zoned for agriculture, not heavy industry. The salvage yard was grandfathered in as an existing business when the zoning laws were adopted, Falloway said.

"I was offered $500,000 for the salvage yard earlier and turned it down," he said.

"I had just paid off a $70,000 loan on part of the property," Falloway said. "Now, I can't get a loan without collateral and I'd need to cash that check to have collateral."

A check for $144,000 is waiting for him at the courthouse, he said.

But Falloway thinks his property is worth at least $300,000 and plans to take the state to court to try to get it.

So, he's refusing to accept the check.

Chuck Wolfe, spokesman for the state transportation cabinet, said with a lawsuit pending in the case: "I would have to decline comment about that case specifically. But I can provide some information about the process generally."