expropriation

by Gringo Viejo @, Kansas/Zihuatanejo, Wednesday, February 16, 2011, 16:25 (2496 days ago) @ ZihuaRob

Ah, yes, ti comes back to me now--the right of imminent domain! Originally intended only for public projects, i.e., schools, roads, etc. The government decides the "project" is for the publick good, comes in an assesses the value of the property (usually an at least fair market value), pays the owner and takes the property.

Of course some of these projects are of very questionable "public good" like the Truman Resovoir in MO that "took" my grandfather's lands and paid him the current agriculterual fair market value. The "public good" was supposed to be for flood control, recreations, etc. Today it is doubtful it would ever fly becuase an Environmental Impact Statement would be required.

Interesting that some of the land taken for the "public good" ended up next to lands bought up in advance adjacent to the public land and ihat land increased in value many times over when the Truman Resovoir was completed.

But, can you believe it, the Right of Imminent Domain has been used to take land for the use by developers for mega-real estate projects? Seems like it happens the same way the world over.


Complete thread:

 RSS Feed of thread