There is an ongoing backlash to the Supreme Court decision ruling to allow eminent domain– the taking of private property for public purposes with compensation – to be used in private projects. Close to 40 states have initiated legislation limiting the scope of eminent domain.
Businesses that gain from this practice should be aware that boycotts by developers, lenders and real estate agents are possible. BB&T Corp., the 9th largest bank in the US already refuses to back projects involving eminent domain.
Businesses that gain from this practice should be aware that boycotts by developers, lenders and real estate agents are possible. BB&T Corp., the 9th largest bank in the US already refuses to back projects involving eminent domain.
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