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Yes, that's pretty much what has happened and this
case is an example of it. AT least in this case a
college is involved, but as you say, in other cases
it's been private, for profit, developers. I can see
doing that in very select cases. An example here
in NJ is Asbury Park, where they used ED to take
large parts of the beachfront area so that developers
could then turn what was a total slum into businesses,
apartments, condos, etc. It has been a big benefit
to the city and has cleaned up what was a real pit.
Prior to that it had been mostly crumbling, unoccupied,
boarded up buildings.
But the problem is that it's then being used in other
cases, where the need isn't nearly as clear and
compelling. An example here would be Long Branch,
where they started out in a similar fashion to turn
around a waterfront in decline. But
even then, LB was not close to being as bad as
Asbury Park was. And having started down the road,
they have continued and have used ED on people in small,
modest homes by the ocean that are well kept and
perfectly fine to sell with ED so they can turn it over
to condo developers. How you draw the line and
prevent the abuse is a problem.