Private Development As Public Use: New Michigan Case Raises Questions About Power to Condemn Property for Economic Development (Law and the Appraiser) Private Development As Public Use: New Michigan Case Raises Questions About Power to Condemn Property for Economic Development (Law and the Appraiser)

Private Development As Public Use: New Michigan Case Raises Questions About Power to Condemn Property for Economic Development (Law and the Appraiser‪)‬

Appraisal Journal 2004, Fall, 72, 4

    • $5.99
    • $5.99

Publisher Description

More and more, the power of eminent domain is being used to transfer nonblighted land from one private owner to another for redevelopment. The scenario goes like this. A governmental entity focused on economic development identifies property it believes is underutilized by its current owner. In order to attract new businesses or to keep an existing business from moving its operations, the governmental entity seeks to acquire the property and transfer it to a private entity for redevelopment to a more economically productive use. If the present owner does not want to sell, the governmental entity resorts to the exercise of eminent domain to acquire the property in order to immediately sell it to another private entity for the desired development. If such a condemnation is lawful, the current owner has no choice but to undergo the disruption and inconvenience of relocating its business or residence. Generally, private property may be taken by eminent domain only for a "public use." Federal and state constitutions prohibit condemning authorities from taking property solely for the private use or benefit of another owner. While seemingly simple in the abstract, the distinction between a public use and a private use has proved to be quite blurry to courts interpreting the limits of eminent domain.

GENRE
Business & Personal Finance
RELEASED
2004
22 September
LANGUAGE
EN
English
LENGTH
20
Pages
PUBLISHER
The Appraisal Institute
SELLER
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
289
KB

More Books Like This

U.S. Supreme Court Tackles Three Takings Cases That could Chart New Directions for Eminent Domain (Law and the Appraiser) U.S. Supreme Court Tackles Three Takings Cases That could Chart New Directions for Eminent Domain (Law and the Appraiser)
2005
Have Redevelopment Agencies Gone Too Far Using the Power of Eminent Domain? the Supreme Court May Soon Tell US (Kelo V. City of New London, And Relevant Case History) Have Redevelopment Agencies Gone Too Far Using the Power of Eminent Domain? the Supreme Court May Soon Tell US (Kelo V. City of New London, And Relevant Case History)
2004
Planning for Wicked Problems Planning for Wicked Problems
2015

More Books by Appraisal Journal

Cross-Examination at a Jury Trial. (Features). Cross-Examination at a Jury Trial. (Features).
2003
Where the Overall Cap Rate Meets the Discount Rate (Property Valuation) Where the Overall Cap Rate Meets the Discount Rate (Property Valuation)
2004
Discount Rates for Consistent Valuation of Various Measures of Book Income and Cash Flow (Features) Discount Rates for Consistent Valuation of Various Measures of Book Income and Cash Flow (Features)
2003
Subdivision Development: Risk, Profit, And Developer Surveys. Subdivision Development: Risk, Profit, And Developer Surveys.
2004
What's a Warranty Worth? the Impact of Home Owner Warranties on Property Sales. What's a Warranty Worth? the Impact of Home Owner Warranties on Property Sales.
2004
A Practical Tool to Assist in Analyzing Risk Associated with Income Capitalization Approach Valuation Or Investment Analysis (Features; Excel Model) A Practical Tool to Assist in Analyzing Risk Associated with Income Capitalization Approach Valuation Or Investment Analysis (Features; Excel Model)
2003