The Detroit News (Darren A. Nichols, Detroit Crisis May Force Sale of Crucial Assets, February 13, 2012) reports that Detroit is considering raising money to forestall a state takeover of the city by selling some of its facilities like Belle Isle, City Airport, and golf courses among other city assets. For the full Detroit News article, click here.
We hate to kick a fellow when he is down, but we can’t refrain from recalling all those Detroit redevelopment projects like Poletown and all those casinos, to say nothing of the city abusing property owners whose properties had been marked by the city for eminent domain/redevelopment acquisition, but not acquired for a long time, while the city harrassed the owners in order to depress values and pick up their properties for a song — notably in the Foster case in which the federal courts put an end to it — or at least tried to — by holding the city liable in inverse condemnation. So if it comes to the city having to sell its assets to stay afloat, that mey be no more than justice. Maybe justice delayed but justice nonetheless.