Interesting blurb from NJ Lawyer
In Kelo v. City of New London, the U.S. Supreme Court said that if a government thought it was a good idea to condemn private property through eminent domain and hand it over to a private developer - if public officials thought that would forward the public purpose of economic development -well, the nine justices would defer to those local officials' informed judgment. That was in June 2005. So how are things going in New London,Conn, two and a half years later? According to reports in the New London Day, not so well. The private company chosen to redevelop the Fort Trumbull area, Corcoran Jennison, has missed several deadlines for securing financing and hasn't built a single one of the luxury apartments and townhouses that are supposed to begin to revivify the area. The city has given them another six-month extension to get their financing together. Meanwhile, the first condemnation notices for the homes and businesses that once stood in the neighborhood went out a full seven years ago. Oops! 12-20-07
In Kelo v. City of New London, the U.S. Supreme Court said that if a government thought it was a good idea to condemn private property through eminent domain and hand it over to a private developer - if public officials thought that would forward the public purpose of economic development -well, the nine justices would defer to those local officials' informed judgment. That was in June 2005. So how are things going in New London,Conn, two and a half years later? According to reports in the New London Day, not so well. The private company chosen to redevelop the Fort Trumbull area, Corcoran Jennison, has missed several deadlines for securing financing and hasn't built a single one of the luxury apartments and townhouses that are supposed to begin to revivify the area. The city has given them another six-month extension to get their financing together. Meanwhile, the first condemnation notices for the homes and businesses that once stood in the neighborhood went out a full seven years ago. Oops! 12-20-07
|