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Outagamie County Flip Flops on Eminent Domain Decision

Controversy is swirling in the Appleton, Wisconsin area after Outagamie County voted in favor of using eminent domain to acquire property for a new Sheriff’s facility. Outagamie County attempted to purchase the property, but the property owner accepted a rival offer from J.F. Ahern Co. Fire Protection.  After losing out on the bid to purchase […]

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Seizing Mortgages – New Cities Show Interest in Richmond’s Eminent Domain Plan

In a previous post, we discussed the city of Richmond, California, and its failure to get a supermajority vote to move forward with its plan to seize underwater mortgages through its eminent domain power. While it failed to pass the resolution, it sought other California cities, such as San Francisco, to join a joint powers authority […]

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Seizing Mortgages – The Impact on the Financial Markets

The Richmond eminent domain plan has attracted a great deal of attention since the city first introduced it. Many approved of its purpose: to help the poor fight to keep their heads above water when their homes were so far underwater. There are many, however, who do not share this sentiment. Banks and investors are […]