Wednesday, February 5, 2014

Kelo v. City of New London

Photo: Nard

Or how the government tore down a working class neighborhood to build a vacant lot for the public good.

In 2005 the Supreme Court upheld a decision by the Connecticut Supreme Court that the City of New London may seize privately owned real property under eminent domain so that it could be used for private economic development, deciding the tax revenue from the private development satisfied the requirement for public interest for eminent domain.

New London's justification for its use of eminent domain was 3,000 jobs and $1.2M in new tax revenue.

Jobs produced: 0
Tax revenue: 0

Remember... Government knows best

Net Loss: $78,000,000

Weekly Standard

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