Kelo Update

http://www.futureofcapitalism.com/2011/04/kelo-update

Remember the Supreme Court's 2005 eminent domain ruling in Kelo v. New London that the constitution did not prevent the City of New London, Connecticut, from seizing private homes for a redevelopment project anchored by Pfizer? Newsbusters.org provides a useful update. Pfizer's pullout in 2009 attracted some press attention at the time. The latest news, reported Friday in a local newspaper, is that a new developer wants to build rental townhouses on the property — but only if it gets tax abatements from the city. As Newsbusters.org notes, "This outcome makes a complete mockery of the Supreme Court majority's belief that a 'carefully formulated ... economic development plan' was ever in place."

In more cheerful Kelo-related news, the Institute for Justice, a non-profit libertarian law firm, reports that last week it won a significant victory in an eminent domain-abuse case in National City, California.

by Ira Stoll  |  Apr 24, 2011 at 10:07 am Related Topics:  Housing, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list