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November 4, 2005
Eminent domain looks less imminent
CNN/Money
by Shaheen Pasha
Eminent domain, under the House bill, would only allow federal funds for economic development such as building roads and hospitals, acquiring abandoned property and revitalizing a blighted area.
The House bill would also allow private property owners the right to sue the appropriate government entity if they were stripped of their land through the use of eminent domain and later found that the land was given to a private developer.
NoLandGrab: The action mentioned in the second paragraph above still only applies in cases of property turned over to a private developer for "economic development."
Though...
David Snyder, an eminent domain attorney and partner at Fox Rothschild LLP said any legislation would have a profound effect on business.
"Private developers will have to be very focused on the way they deal with development in blighted areas," he said. "If they were planning on homes, that may not be problem but if you're looking to not only increase residential properties in a communities," but promote commerce by opening shopping malls and supermarkets, they may have a tough time meeting the new standards under the bill.
Posted by lumi at November 4, 2005 7:14 AM