Sometimes You Have to Pay Fair-Market Value

 

The Washington Post, like the New York Times, is an active supporter of eminent domain for purposes of economic development.

The Post cries about $28,000,000 being spent to buy the Skyland Shopping Center land for redevelopment. What did it expect? Fair-market value is sometimes a requirement, even for the District of Columbia.

http://www.washingtonpost.com/business/capitalbusiness/2013/01/25/5734a7c6-665c-11e2-85f5-a8a9228e55e7_story.html

Located at the intersection of Good Hope Road, Naylor Road and Alabama Avenue in Southeast, Skyland is one of the only places in the area to pick up a prescription or grab a bite to eat. But its lackluster offerings have pushed the city government to extraordinary lengths to upgrade it.

According to a tally by the attorney general’s office, D.C. has issued $28 million in payments to get the original businesses on the site — among them a liquor store, a discount mart and a beauty supply store — to leave.

To remove business owners that did not want to sell, the city used eminent domain to force them out, leading to a dozen court cases beginning in 2005. This cost the city more than another $1 million in outside legal expenses and the use of more than 10,000 city attorney hours.

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