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Originally Posted by stevo
At 125% market-price, who could complain?
With eminent domain cases you are garunteed a fair-market price. If you don't recieve one, or have economic damages as a result, you can take your case to court and generate work for an economist.
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It is bad enough when they take your property for state projects like highways but it is outright theft when one private citizen can get the government to force another private citizen to sell to them. If the developer wants the property bad enough let them offer 1000% of market value or whatever it takes.
In this case when people wouldn't sell to them the developers went to the city to force the sale at their price. The city knew it couldn't legally do this so they declared the area a blight which legally gives them the right to take it. This just isn't right, legally or morally.