- Sep 25, 2001
- 29,391
- 2,738
- 126
http://en.wikipedia.org/wiki/Kelo_v._City_of_New_London
City council of New London, Conn took homes for "comprehensive redevelopment plan.
However, the private developer was unable to obtain financing and abandoned the redevelopment project, leaving the land as an empty lot, which was eventually turned into a temporary dump.
Supreme Court in 2005 ruled against the homeowners.
also, Pfizer was suppose to be major beneficiary. but pfizer merged with Wyeth, resulting in a consolidation of research facilities of the two companies.
they walked away from the New London site, closing its New London facility in late 2010 with a loss of over 1000 jobs.
The final cost to the city and state for the purchase and bulldozing of the formerly privately held property was $78 million. The promised 3,169 new jobs and $1.2 million a year in tax revenues had not materialized.
In the aftermath of 2011's Hurricane Irene, the now-closed New London redevelopment area was turned into a dump for storm debris such as tree branches and other vegetation.
recent news of the supreme court made me think of this case.
City council of New London, Conn took homes for "comprehensive redevelopment plan.
However, the private developer was unable to obtain financing and abandoned the redevelopment project, leaving the land as an empty lot, which was eventually turned into a temporary dump.
Supreme Court in 2005 ruled against the homeowners.
also, Pfizer was suppose to be major beneficiary. but pfizer merged with Wyeth, resulting in a consolidation of research facilities of the two companies.
they walked away from the New London site, closing its New London facility in late 2010 with a loss of over 1000 jobs.
The final cost to the city and state for the purchase and bulldozing of the formerly privately held property was $78 million. The promised 3,169 new jobs and $1.2 million a year in tax revenues had not materialized.
In the aftermath of 2011's Hurricane Irene, the now-closed New London redevelopment area was turned into a dump for storm debris such as tree branches and other vegetation.
recent news of the supreme court made me think of this case.
Last edited: