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December 29, 2005
Property grabs and the Gulf
Local governments will likely use eminent domain to rebuild; who will that help?
Yesterday, when we posted an item about rebuilding homes and goverment seizure of property in the tsunami-ravaged coast of Thailand, we speculated that similar moves to take land from homeowners for interested developers might occur during the rebuilding efforts on the USA's Gulf Coast.
An alert reader sent in this article from CNN:
As Hurricane Katrina-ravaged cities begin the laborious process of rebuilding, there is increasing speculation that government officials may turn to the controversial – and often disparaged – use of eminent domain to revitalize the destroyed region.
It's a prospect that's raising eyebrows among critics who fear that land developers will take advantage of the desperation in the region and push devastated homeowners out of their homes in the name of redevelopment.
Posted by lumi at December 29, 2005 7:23 AM