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Lost in Limbo
How the Threat of Eminent Domain Harms Property Owners
An irony of urban redevelopment is that the purported goal of economic development is usually hampered by government’s insistence on retaining the power of eminent domain for a project. Forest City, a developer infamous for its Atlantic Yards dispute in New York, is involved in just such a situation in Fresno, Calif. Fresno decided in 2005 that the area south of Chukchansi Park, home of the city’s minor league baseball team, should be “revitalized.” The next year, the city hired mega-developer Forest City to begin the downtown redevelopment; unfortunately, the very plan designed to revitalize Fresno’s downtown is draining the area of not only its current tax base but hampering other future investments in that area.
Forest City’s plan for the 85-acre South Stadium area, which calls for a new shopping district and 700 new homes, has threatened more than 40 properties with eminent domain for private gain. 1 «Read the rest of this article»
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