No kidding?
A National Taxpayers Union study indicates an increase in eminent domain use and abuse at all levels of government. A good read. Also, it has examples:
— Brooklyn, New York — Well-connected developer Bruce Ratner’s ambitious proposal (four office towers, 300,000 sq. ft. of retail, 4,500 housing units, six acres of parks, and a publicly funded stadium for the New Jersey Nets) to redevelop the “Atlantic Yards” area of Brooklyn will kick out 150 tax paying homeowners and ring up nearly $1 billion in subsidies on the taxpayer’s tab.
— Toledo, Ohio — City officials offered to acquire nearly 160 acres of residential and commercial property — including 83 homes — in an attempt to persuade DaimlerChrysler not to relocate their manufacturing facility elsewhere. But the 4,900 jobs the city hoped to save dropped to 2,100 since the new plant was fully automated. Toledo taxpayers are left to pay off a $26.7 million relocation loan and cover a $47,000 rebate for each worker now employed.
— Pittsburgh, Pennsylvania — Using subsidies and city- financed loans adding up to over $50 million — $150 for every person living in Pittsburgh — Mayor Tom Murphy lured Lazarus and Lord & Taylor to relocate in the city. However, both upscale department stores closed before they even reached the sales target that would require them to start payments on their taxpayer- financed loans.
