Guess What? Redevelopment Doesn’t Deliver on Its Promises.

 

“Florida Gulf Coast University economists Carrie Kerekes and Dean Stansel used data collected from states to quantify the empirical effect of eminent domain on local economies. If taking private property for public use is economically beneficial, tax revenue would correlate positively with increased eminent domain takings.



“Kerekes and Stansel found “virtually no evidence” of eminent domain’s economic benefit.

“The search for empirical evidence regarding government takings and tax revenue did turn up something surprising: There appears to be ‘a negative relationship between eminent domain and revenue growth.'” The author, Jesse Hathaway is a research fellow with The Heartland Institute.

http://www.timescall.com/columnists/opinion-local/ci_27297292/jesse-hathaway-re-evaluating-if-eminent-domains-benefits#top

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