Because That’s What the Mayor Says its Worth

The Asbury Park Press has a number of letters today from residents of Long Branch who are angry that they have lost or are losing there houses to eminent domain rules. Although I agree with the mayor that the area in Long Branch in question, which is along the ocean in the north part of town, needs improvement, I don’t think invoking eminent domain rules is the way to change it. By invoking the eminent domain rules, the city of Long Branch is essentially subsidizing the profits of the developers. If the developer thought it was so important to build condos along the ocean, than he should pay the full market price for the property, not have the government seize the property.


“Most of the homes in the Marine Terrace-Ocean Terrace-Seaview Avenue area were appraised at far less than what Schneider wants you to believe. He was quoted as saying they were worth $60,000 to $90,000 but that we got appraisals of $500,000 to $600,000. That is ludicrous.”

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