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  1.    #1  
    There was a thread here a few weeks ago right after the Supreme Court eminent domain decision was handed down. Now that I see this story (published in the 7/8 Atlanta Business Journal), I wonder what it was that was being decided--this is already going on in a number of places throughout the US.
    ---
    EXCLUSIVE REPORTS Atlanta Business Journal
    From the July 8, 2005 print edition

    Taken for Home Depot
    Eminent domain has helped Home Depot get store sites
    Justin Rubner Staff Writer

    Long before the Supreme Court's lightning rod June 23 decision on eminent
    domain, local governments across the country were taking private property
    for Georgia's largest company, The Home Depot Inc. As recently as June, for
    example, Kmart Holding Corp. was forced to sell one of its properties in
    North Bergen, N.J., to make way for a Home Depot. And in 2003, a homemade
    furniture store in Harlem, N.Y., was forced to sell to make way for a Home
    Depot parking lot.

    http://atlanta.bizjournals.com/atlan...11/story1.html

    <snip -kr>
    Last edited by KRamsauer; 07/11/2005 at 10:47 AM.
  2. #2  
    This part really sickens me:

    "One property owner in San Diego was not as lucky. Several years ago, the San Diego Unified School District forced developer West RNLN LLC to sell a 24-acre parcel for $19 million. It was later determined, however, that the parcel was unsuitable for a school and deemed better for retail. In 2004, the San Diego Unified School District sold the property to Home Depot for $30 million -- making an $11 million profit."

    There should be additional statutes stating that if the property winds up not being used for its intended purpose, it should either be offered back to the original owner, or all additional profits less XX % should be passed on TO the original owner.

    Pamela
    Using my treo 650 for business:
    DesignExtend.com
  3. #3  
    Highest and Best Use dictates the real estate world. Don't know a thing about this case, but I typically agree a school should not be at a viable retail corner and a Home Depot should. Here's the definition of highest and best use...

    The term “Highest and Best Use” is defined within The Appraisal of Real Estate, 12th Edition, published 2001, Page 305, as:

    “The reasonable probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value.”
  4. #4  
    The biggest problem with emminent domain is that compensation decisions are typically based on market rates. Hello! If someone were willing to part with their property at market rates, they would have sold already.

    The whole thing sickens me.

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