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January 30, 2008
Doomsday? No Way
From the Institute for Justice:
Throughout the public backlash to the Kelo ruling, those who favor eminent domain for private development predicted—and continue to predict—dire consequences from reform for state and local economies: fewer jobs, less development and lower tax revenues.
This report tests those doom-and-gloom predictions. We examined economic indicators closely tied to reform opponents’ forecasts—construction jobs, building permits and property tax revenues—before and after reform across all states and between states grouped by strength of reform.
This report uses reality and facts to debunk the myth that urban redevelopment dry up and cities will stagnate without the power of eminent domain.
NoLandGrab: Keep in mind, Bruce Ratner and the Empire State Development Corporation's justifiction for using eminent domain is that without "blight clearance" the neighborhood would stagnate. Meanwhile across the street condos and townhouses are fetching seven figures.
Posted by lumi at January 30, 2008 7:17 PM