Sell the land: no crime, no poor people, no unions, no zoning, no stagnant city government. Start fresh. No baggage.
Doing that would at least double the current value of the land I bet.
I like the idea, clean it out totally and then start fresh without any prior restrictions or contracts or deals.
Kind of like a “Reset” button.
This is one use of imminent domain that I might support. Here is fair market value for your home, now move! You are welcome back when YOU pay YOUR way back.
One heck of an opportunity to show what could be done if we could start fresh somewhere.