Eminent Domain Abuse in Norwood, Ohio

This story illustrates the problem with Eminent Domain. When it is a school or park that the community needs, eminent domain is a great tool. When it is a development to enrich either the government or a business, eminent domain will always be abused. Joe Horney wanted to keep his house. A developer wants to buy it at market rate, but at a predefined market rate that the sheriff is enforcing.

Part of the game of land ownership and development is that the last person to sell out tends to do better financially. The developer has to put together the properties and make an offer that entices the people to sell. Joe Horney should be able keep his house or get an offer he can not refuse, and I am not talking about a sheriff coming to the door, but a ridiculous dollar amount. That is the bet the developer is placing that he can put together all of the properties to use for the project. Instead, he starts out threatening the people of the community with eminent domain changing the dynamic of the marketplace. And that is wrong.

Joe Horney used a small inheritance from his grandparents to make a down payment on a $63,900 house in 1991. He lived in the house for a while, fixed it up and rented it out for 10 years. He went on to manage construction of luxury homes and own other rental properties.

Then came Sept. 28, 2002. In a penthouse office overlooking Horney’s rental property, a developer told local residents that he wanted to buy all the homes on the block, tear them down and build condos, retail shops and parking garages.

A PowerPoint presentation made clear what would happen to those who refused to sell: eminent domain. The city of Norwood would use its governmental power to transfer ownership of the property from uncooperative owners to the developer.

Horney, 36, got angry and left the meeting. “From that moment on, my mind was made up,” he says. “They can’t take my property just because they want to. That’s not right.” via USATODAY.com

Related posts:
  1. Using Real Estate Auctions To Determine Value In Soft Market
  2. Ford Foundations Creates New 50 Million Dollar Forclosure Fund
  3. Cheaper To Tear Down New Homes Than Sell Them
  4. Contractor Builds Million Dollar Business Card
  5. Ohio Real Estate Agent Attacked At Model Home

Post a Response

« Back to text comment
  • Popular

    Most Comments

    Search

    Tags

    Archives

  • Recent Comments

    • My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
      Kara | 7Nov09 | More
    • What about RE/MAX Commercial? Where this classification came from? I am pretty sure RE/MAX Commercial in volume sales must be above ...
      JM Padron, CCIM | 7Nov09 | More
    • Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
      Joe Spake | 7Nov09 | More
    • It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
      Antony Lexington@Home loan | 7Nov09 | More
    • I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI.
      ROBIN SPURLIN | 6Nov09 | More
    • Definitely not a fan of Move Inc.!!!
      Tony Sena | 6Nov09 | More
    • A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
      SpazzyCat | 6Nov09 | More
    • In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
      Mary | 6Nov09 | More
    • I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
      Cheryl Gungor | 6Nov09 | More
    • I have the same situation. I sold my home in July and am scheduled to to close in a few ...
      Arlo Moehlenoah | 6Nov09 | More
  • Statistics

  • Friends

  • Recent Friends Visiting

  • Subscribe





    Get Updates Delivered Daily By E-Mail:

    Delivered by FeedBurner