Erika Morphyis co-editor of Debt and Equity Journal, from whichthis article is excerpted.
On the one-year anniversary of Kelo v. City of New London, theBush Administration weighed in on the still controversial issue bydeclaring that federal agencies cannot seize private propertyexcept for public projects like highways or hospitals. Experts saythe gesture was largely symbolic.
Kenneth B. Bley, a land-use attorney and partner in the LosAngeles office of Cox, Castle & Nicholson LLP, explains, "Theonly use of economic redevelopment that I know of is carried out bycities, counties and redevelopment agencies. I'd be surprised ifthe federal government engages in economic redevelopment atall."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
