WalMart Fails To Aquire Property Using Eminent Domain Laws
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WalMart is one of the worst offenders of corporations using the eminent domain statute to take land from homeowners to put together properties for their supercenters. They dangle the potential tax revenue to the locality, and they jump through hoops for WalMart.
Now I am not one the of the masses that hate WalMart. I think they are an amazing company and have done some great things for the country. But when it comes to eminent domain abuses, they are amongst the worst. In Massena, New York they were repelled by a strong and smart opposition. The changing times will hurt WalMart in its attempts to have local governments put together land for them. They will have to pay the homeowners fair market, or even above fair market, to acquire their properties.
Saint Lawrence County officials say public opposition to the plan convinced them to back off from using
eminent domain to get the new Wal-Mart built on the property.
The owner of the Saint Lawrence Centre mall –Carlyle Development Group of White Plains — has been trying for more than a year to sell the land to Wal-Mart so it could build a supercenter.
Wal-Mart officials say the company is still reviewing the situation and considering its option via News 10
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[...] Blog Name: The Real Estate Bloggers Article Title: WalMart Fails To Aquire Property Using Eminent Domain Laws WalMart is one of the worst offenders of corporations using the eminent domain statute to take land from homeowners to put together properties for their supercenters. They dangle the potential tax revenue to the locality, and they jump through hoops… [...]