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Full-Text Articles in Taxation-State and Local
Taking Compensation Private, Abraham Bell, Gideon Parchomovsky
Taking Compensation Private, Abraham Bell, Gideon Parchomovsky
All Faculty Scholarship
In light of the expansive interpretation of the ""public use"" requirement, the payment of ""just compensation"" remains the only meaningful limit on the government's eminent domain power and, correspondingly, the only safeguard of private property owners' rights against abusive takings. Yet, the current compensation regime is suboptimal. While both efficiency and fairness require paying full compensation for seizures by eminent domain, current law limits the compensation to market value. Despite the virtual consensus about the inadequacy of market compensation, courts adhere to it for a purely practical reason: there is no way to measure the true subjective value of property …
The Ideal Deal: How Local Governments Can Get More For Their Economic Development Dollar, Rachel Weber, David Santacroce
The Ideal Deal: How Local Governments Can Get More For Their Economic Development Dollar, Rachel Weber, David Santacroce
Books
This handbook is designed to provide local economic development practitioners with an important tool. It takes the reader step-by-step through the different elements of contracts that treat public incentive packages as a quid pro quo for public benefits. Each section discusses a different element of the ideal deal: valuation of public costs and benefits, performance standards, disclosure and oversight, and enforcement. In each section we provide detailed examples of model provisions used by local governments in their incentive legislation, ordinances, and contracts -- information that has not before been obtained or recorded in any systematic way. These examples are meant …