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WSJ |
Court Upholds Eminent Domain
- The Supreme Court gave local governments broad rein to take private
property for economic development, ruling that transferring land to private
investors for projects promising to bring jobs or commerce was a public use
akin to building a park or paving a road.
- Several projects could
lead to the condemnation of property for conversion to shops or other uses
that will feed off the primary development
- Developers said the ruling was a relief. James G. Koman, president
of Koman Properties Inc., of St. Louis, has five projects that hinged on
the outcome. "There's no way a city can rebuild its urban core or rundown
sections of town unless you have this type of law behind you," he
said.
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