Looks like the eminent domain legislation that Winston-Salem wants enacted to allow them to redevelop blighted properties is about to clear the NC House of Representatives and then move on to the Senate. More background here.
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Befuddled 
IMHO, this is scary, scary, scary. The idea that developers who want $$$ could walk over to City Hall and work out a deal whereby a landowner could have his/her property taken away from them is frightening.
Read http://en.wikipedia.org/wiki/Kelo_v._City_of_New_London (if you have time, find the actual opinion — Wiki is your friend for a quick review!). If you make it to the bottom, you will read that in this case, the so called “benefit/public use” (the backbone of the eminent domain principle) never materialized. Shocker.
I’m not arguing against the redevelopment of blighted properties, but if people don’t want their properties redeveloped and you’re not in the business of paving highways or building schools or other necessary public facilities, you’re just S.O.L..
AMR I agree that it’s scary. I seem to remember that there was a case
in New England where a town used eminent domain to take some houses
that were old but still inhabited and the intended use was something
like a commercial development (mall or offices?). I have no problem
with developers buying land and redeveloping it but I get a little
hinky when governments start taking property for similar purposes.