John Norquist and Bart Peterson, the mayor of Indianapolis, discuss the implications of the Supreme Court's ruling on eminent domain.
Norquist: "... The real problem with [eminent domain] is that municipalities haven't been that good at predicting what actions will increase the value of property. I mean, there's empty lots all over urban sites in America where cities have condemned land and then it just sit there is idle. Assembling parcels, tearing out the fabric of the city and creating super blocks has been a strategy for economic failure."
Bart Peterson: "Now, they did not have that in Connecticut. Many states require you to pay more than the fair market value of the property if you're condemning for economic development purposes. So each state has the ability to structure it the way they want. So I believe that it's state by state city by city democracy that really works to prevent that kind of developer greed that you've expressed a concern about."
[Editor's note: The full exchange is also available in streaming audio.]
Thanks to Chris Steins
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