Thursday, April 06, 2006

Bloomberg: "Ours for the Taking"

In an attempt to enhance his and the city's political power the mayor has issued a "NYC Card" to 100 influential contributors to political campaigns. As the NY Sun reports this morning, the card highlights some of the key issues that the mayor feels should be a prerequisite of financial backing. One of the five priorities is "the ability to use eminent domain in blighted communities."

Now we have made it clear that we don't take an absolutist position on the ED issue. That being said, however, we also believe that the current policy and procedures involved in the taking of private property needs to be reformed.

In addition, Mike Bloomberg, given his immense wealth, does not come across as the best spokesman for the policy. More protection needs to be put in place for property owners and small businesses-along with greater compensation-and a more rigorous review of the public benefits must be made part of the process.