Um, they are COMPENSATING one for their property.
Time was Government just took the land..
From an article on another thread:
"On the other side of town, city leaders cheered the decision, calling it a victory for cash-strapped cities that want to spur redevelopment."
Do you not see a problem there? Here's what the loser of the case had to say:
"I spent all the money I had to buy these properties," said Von Winkle, a former deli owner who lives in the neighborhood and owns two other rental homes. "They were not inherited. They were not a gift. I sold sandwiches to buy these properties. It took 21 years."
Do you support this decision?
I heard an interview on Fox today, one of the homeowners..
He said he was originally offered $60K for his 1/2 acre and 10 room house.. Later upped to $150K or so..
His estimate was that the property's real value, (as sea-front property ) was in the area of $300K to $500K..
I will "try" to be fair and guess he is right at about $400K.. ( although I am guessing that the city will sell lots at the $500K and up rate to private, well-to-do buyers. )
Half the real value is not just compensation.. It is robbery and an abuse of power..
I would recommend these property owners hold on to their lawyers and keep track of all property sales after their property has been seized..
Then, when the actual figures are realized for the property's new values, Sue The City..
Force them to pay the newly realized property values as "just compensation"..
As to the use of eminent domain, one solution is to start at City Hall..
Vote in legislators that will amend the City's charter to forbid such uses of eminent domain except in real "public use" conditions, strictly defined in by law..
Secondly, amend the State's constitution in the same manner..
Define by law, what is a public use, and under what conditions eminent domain seizures are justified..
Lastly, get congress to redefine the law..
It is the people's power to over-rule the Supreme Court through the power of the vote..
Ok, and who sets the value of that compensation? Certainly not the seller. If it was just compensation the seller would have sold. That is the principle of a free market economy.
This is not emminent domain's taking of private property for public use. It is the principle of eminent domain being used to force property owners to sell their property at a value they do not accept.
How would you like it if potential buyers of your property set its value, then used the government to evict you, giving you only what they considered to be just compensation?