Drs. Jeffrey D. Eicher, Jerry D. Belloit and C. Frank Shepard, faculty members in Clarion University Department of Finance, have published a manuscript, entitled: "The Evolution and Consequences of Kelo v. City of New London," in Real Estate Issues, (2011) Vol. 36(3), 19-26, a peer-reviewed journal published by The Counselors of Real Estate.
In summarizing the article, Peter C. Burley, the editor-in chief of Real Estate Issues, tells us that the authors provide us with a comprehensive review of the Kelo decision by the U.S. Supreme Court.
The Kelo decision "paved the way for jurisdictions to take private property if there were a belief that future development might generate a public benefit (i.e. new tax revenues), without necessarily demonstrating the need for the property or the benefit of its condemnation for public use," Burley said. "The Supreme Court determined ‘public use' could be interpreted as ‘public purpose' and that the concept of ‘public purpose' refers to perceived public needs in justifying the use of the takings power of the Fifth Amendment. Reaction has been mixed over the past several years, with a number of states and other jurisdictions considering - and some implementing - legislation that limits ‘takings' to very specific purposes."
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