The Evansville Courier Press has a piece up this morning about the expected local impact of Indiana’s
House Bill 1010, which is awaiting the expected signature of the governor. The bill was adopted by the Indiana
legislature in response to the US Supreme Court decision in
Kelo V. New London, where the Court found that state governmental bodies could use the power of eminent domain to take property from private land holder and turn it over to private developers to promote economic growth (which I have discussed
before).
The focus of the Courier piece is the impact on economic development measures in Indiana. Specifically, Indiana’s industrial parks, which will have to comply with the new eminent domain law to take property from private landholders for inclusion in industrial parks. Evansville expects to have to pay more to expand an industrial park:
All but certain to be signed into law by Gov. Mitch Daniels, the Indiana House measure would require a city or county to pay 150 percent of fair market value to the owner of an occupied residence and 125 percent for agricultural land. Weinzapfel noted the bill’s effect is to force a government agency to look at individual parcels rather than an entire area when the goal for use of condemned land is economic development and increasing assessed valuation.
The government entity also would be responsible for relocation costs and some legal expenses. Weinzapfel said Evansville’s project could fall under a provision of the new law inserted to accommodate a plan to redevelop a South Bend brownfield where Studebaker automobiles were manufactured. It allows a government entity to consider land of multiple parcels as a block when it comprises at least 10 acres and when the entity acquires clear title to 90 percent of the parcels.
This entry was posted
on Monday, March 27th, 2006 at 6:45 am and is filed under Real Estate.
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