Businesses may suffer in Oklahoma Redevelopment Project

Businesses may suffer in Oklahoma Redevelopment Project

The Oklahoma City Council voted nearly unanimously to blight a massive 692 acre area south of downtown. The City hopes to develop the area into, among other things, a downtown park and convention center. The project may use eminent domain powers to acquire residential and commercial properties. At least one business owner has expressed concern that the project could put him out of business. This raises the recurring issue in eminent domain that the compensation provided as “just compensation” to small business owners frequently is insufficient to allow a business to relocate. Such businesses face the choice of either going out of business or spending their own money to stay afloat. In essence, these business owners are being forced to subsidize the projects they are being condemned for. Reforms are needed across the country to expand the notion of “just compensation” to mean full indemnity which would allow for owners to get compensation for the cost to replace their property, for relocation costs and for business losses.

50

 

Receive Updates on this Project

In an effort to keep property owners informed of redevelopment and transportation projects in Missouri, we have developed a list of projects to track information. Simply select the project from the appropriate Project Area to find information and subscribe to future updates. If a project is not listed, contact us.

January 3, 2014 / Uncategorized

Share the Post

About the Author

Denlow & Henry is the only Missouri law firm practicing solely in eminent domain law. More importantly, we only represent property owners.

Our firm has offered these services for more than 35 years. We have diligently protected the constitutional property rights of our clients and strived to obtain full compensation for the taking of their property.

Comments

No comment yet.

Leave a Reply

Cart

  • No products in the cart.