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Boston's mayor threatens to use eminent domain and seize a stalled-out construction site if...

Boston's mayor threatens to use eminent domain and seize a stalled-out construction site if building doesn’t begin ASAP. Vornado Realty Trust (VNO) had promised it would replace a torn-down building with a $700M mixed-use development, but the project shows no signs of getting under way.
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Comments (8)
  • MajorG
    , contributor
    Comments (33) | Send Message
     
    Nice to see that perverting the Constitution and political office hasn't waned one bit. He should be impeached and tossed out immediately for violating his oath of office.
    14 Apr 2010, 10:00 AM Reply Like
  • JoeChase
    , contributor
    Comments (140) | Send Message
     
    MayorG get the details...the company has been stalling in order to get a bailout/municipal funds. I live in Boston and the location in question is a massive ugly hole in the middle of downtown. Sure, Menino is corrupt and has plenty of problems, but I honestly think he is trying to do what is best for the city.
    14 Apr 2010, 10:16 AM Reply Like
  • MajorG
    , contributor
    Comments (33) | Send Message
     
    Seriously? I don't give a rat's ass if the owner lets weeds grow 10ft tall on that property. IT"S THEIR PROPERTY! What part of property rights do you not understand? The use of eminent domain against someone because you don't like what they are doing is a massive violation of Constitutional rights. Let me take a stab at your political affiliation...Democrat? Green? Or just straight up socialist?
    14 Apr 2010, 10:31 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3391) | Send Message
     
    Similar deal in NY. Company kept a plant empty while collecting lucrative tax breaks off the property, while they had interested buyers. Tax-payer's money over jobs? I'll take the jobs over taking advantage of tax payers. Everything is not black and white.
    14 Apr 2010, 10:46 AM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    This will set a huge precedent on local govt to CRE relations nationwide if it happens. Be certain that EVERY mayor and governor nationwide is closely watching this develop.
    14 Apr 2010, 10:10 AM Reply Like
  • ebworthen
    , contributor
    Comments (2811) | Send Message
     
    Coming soon to a neighborhood near you;

     

    "We are using eminent domain to take your home so we can build a Chase bank, a GM Dealership, an AIG branch office, and subsidized housing for retired UAW workers. You will be compensated with Social Security payments (*cough*) and you can keep 80% of your IRA and 401K instead of 50%."

     

    Never say never.

     

    The Supreme Court already approved use of eminent domain to confiscate homes to sell to developers to simply increase tax revenues.

     

    And way back when in that time we seem to have forgotten, FDR confiscated privately held gold.

     

    Your property and money are yours only until government needs them. Not much different from being a peasant under the Lords and Ladies, except you have a pretty flag, more promises, and it is easier for you to be deluded.
    14 Apr 2010, 10:22 AM Reply Like
  • j_remington
    , contributor
    Comments (1343) | Send Message
     
    VNO is laughing all the way to the bank.
    14 Apr 2010, 10:26 AM Reply Like
  • JoeChase
    , contributor
    Comments (140) | Send Message
     
    Chairman of the development company:
    "Why did I do nothing? Because I was thinking in my own awkward way that the more the building was a blight, the more the governments would want this to be redeveloped, the more help they would give us when the time came."

     

    Doesn't sound like Menino is taking my house to build a bank. This sounds like the opposite.
    14 Apr 2010, 10:26 AM Reply Like
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