Last week we broached the topic of irony at the Alamo. The name of the Alamo, where people fought to stop the taking of land, is being heralded as a reason to take land from a private business owner in the name of a museum. This week, the historical game of musical chairs is a popular topic. A Wall Street Journal editorial enters the fray.
As often is the case, at issue is value of the land. The WSJ looks at it from a willing buyer, willing seller perspective. The bar owner is willing to sell at $17 M. The last eminent domain appraisal was for $3.5 M. That’s a $13.5 M gap.
The editorial poses this question: The question is whether it’s right for the government not only to take a person’s property but to set the price and negotiate with the threat of eminent domain hanging in the background.