Wednesday, June 6, 2018
An apartment developer paid millions for prime real estate in Edgewater, New Jersey, with a beautiful view of Manhattan. Nearly 2,000 apartments would be built. The developer also offered to build public parks, parking, a ferry terminal, and a pier, all at no cost to taxpayers.
But Edgewater's mayor, Michael McPartland, and city council said: No, you may not build!
That's not that unusual. Local officials often keep new developments out.
But in this case, they also voted to seize the developer's land using eminent domain. John Stossel asks: Why would they do that?