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A multi-million dollar courtroom drama over land value for the Sacramento Kings new stadium is brewing.
Land values are differing by $25 Million :
If the $25 Million gap in valuations wasn’t enough- the eminent domain process is further complicated by CALPERS being an investor in a segment of land. CALPERs values its land at $12.5 Million. <...
The Buffalo Bills & Sacramento Kings both need new stadiums. Building new stadiums takes land. If negotiations fail, land is acquired via eminent domain. The Buffalo Bills prefer negotiations.
Buffalo would rather pay more in a neogtiation than use eminent domain, which leads to costly litigation.
There’s a list of professional sports stadiums that have used eminent domain, Texas makes the list:
Posted incompensation, economic development, private company
A list of why eminent domain is necessary is not something that occurs with frequency. A law professor lists reasons why eminent domain is necessary in Detroit:
Private property rights advocates will be laser focused on a report by two economists that shows that taking private property for public use is not economically beneficial. The economists wrote that there is “a negative relationship between eminent domain and revenue growth.” Management Districts are controlled by the cities in which they operate and by the statutes that created the districts. The dual level of oversight means that while state law may grant a management district the power of eminent domain, a city may restrict a management district’s use of eminent domain. Such is the case in El Paso. Chapter 505 of the Government Code grants the Monticello Management district the power of eminent domain. The City Council of El Paso has prohibited the… The Green Bay Packers are the only professional franchise to be municipally owned. Municipal acquisition of sports franchises is not an entirely new concept, Oakland considered eminent domain when the Raiders attempted to leave. According to Stanford economist, Roger Noll, “whether eminent domain would work probably varies from state to state and from judge to judge.” Even the threat of eminent domain could have an impact on professional sport franchise ownership … D.C. needs a stadium home for D.C. United. Its futbol, or what the world, except for the U.S., calls football. D.C. has a property swap in mind, but hesitancy in D.C. leadership leads to speculation of eminent domain. Speculators surmise that eminent domain would be more costly (lots of lawyers) and would take more time than to purchase or swap land to build a stadium. [Soccer America
Americans love their baseball. Hartford, CT loves baseball and wants to build a new minor league stadium. The city knows where they want the new stadium, but the people who own that land disagree. The city and landowners couldn’t reach an agreement to sell the land to the city. Naturally, the city is opting for eminent domain. The city proposes to take 14 pieces of private property for a total of $1.98 million. The city will then turn the land over to a developer for a $350… There’s a new WalMart SuperCenter in the works for Longview. But, acquiring the land for access roads to get to the new SuperCenter is challenging. Landowners have not agreed to sell the necessary land to build the access roads. Whether building the roadways to benefit a for profit corporation falls within public use/purpose required for eminent domain will be decided by the courts if eminent domain is used. [
Posted ineconomic development, private company, private property rights, roads
Resfreshing our recollection, two professor types published a paper for Mercatus Center at George Mason University. Their conclusions did not favor eminent domain and has become an anthem for property rights advocates. The Editorial Board at The Oklahoman took an economic spin from the research, and write about optimistic economic development projections, that often fail to take into account opportunity costs. The Editorial Board pushes for more protections for property owners. <...Eminent Domain is Needed. How to Stop Land Speculation in Eminent Domain.
Empirical Effect of Eminent Domain on Local Economies- Not Good
El Paso Management District Prohibited from Using Eminent Domain Authority
Eminent Domain to Acquire an NFL Team?
Stadium Building: With or Without Eminent Domain
Baseball is an American Pastime. Baseball Fields Require Acres of Land.
Eminent Domain for Access to WalMart in Longview?
The Oklahoman Editorial Board: Eminent Domain Should Be Narrowly Tailored