100 FAITH & ECONOMICS 7YVWLY[` 9PNO[Z! ,TPULU[ +VTHPU HUK 9LN\SH[VY` ;HRPUNZ 9L ,_HTPULK ! " # ! 9L]PL^LKI`71/PSS:LUPVY-LSSV^7YVWLY[`HUK,U]PYVUTLU[9LZLHYJO *LU[LY : KDWDUHWKHDSSURSULDWHSRZHUVRIWKHVWDWHZLWKUHVSHFWWRSULYDWH SURSHUW\ULJKWVDQGKRZVKRXOGWKRVHSRZHUVEHOLPLWHG"7KLV YROXPHRIHVVD\VWDNHVXSWKDWSHUHQQLDOLVVXH 3ULYDWH SURSHUW\ ULJKWV DUH RQH RI WKH VLJQLÀFDQW FRPSRQHQWV RI D IUHH VRFLHW\ DQG FRQVWLWXWLRQDO SURWHFWLRQ RI VXFK SURSHUW\ LV VHHQ DV IRXQGDWLRQDO WR D ZHOORUGHUHG VRFLHW\ WKDW UHVSHFWV WKH GLJQLW\ RI WKH LQGLYLGXDO$V\VWHPRIZHOOGHÀQHGDQGHQIRUFHGULJKWVDOVRLVLPSRUWDQW IRUHFRQRPLFJURZWK 3URSHUW\ULJKWVDUHQRWDEVROXWHKRZHYHU,IWKHVWDWHLVWRKDYHUHVRXUFHV VXIÀFLHQWWRFDUU\RXWLWVFRQVWLWXWLRQDOO\GHÀQHGIXQFWLRQVLWPXVWKDYH WKH SRZHU WR WD[ 7KHUH DUH RWKHU DUHDV ZKHUH DOPRVW DOO FRQVWLWXWLRQDO GHPRFUDFLHVKDYHOLPLWHGWKHULJKWVRIKROGHUVRISURSHUW\2QHRIWKHPRVW FRPPRQLVHPLQHQWGRPDLQZKLFKDOORZVWKHVWDWHWRH[SURSULDWHSURSHUW\ IRUWKHSXEOLFJRRGXQGHUFHUWDLQFRQGLWLRQV$QRWKHULVWKHUHJXODWLRQRI SURSHUW\ZKHUHVXFKUHJXODWLRQVDUHDJDLQMXVWLÀHGE\WKHSXEOLF·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ÀHVWKDWWKHWDNLQJ PXVWEHIRUSXEOLFXVHDQGMXVWFRPSHQVDWLRQPXVWEHSDLG 5HJXODWLRQ RI SURSHUW\ SDVVHV FRQVWLWXWLRQDO PXVWHU XQGHU WKH SROLFH SRZHU SURYLVLRQV RI ERWK WKH IHGHUDO DQG VWDWH FRQVWLWXWLRQV 7KH IDFW KRZHYHUWKDWERWKHPLQHQWGRPDLQDQGUHJXODWLRQRISULYDWHSURSHUW\DUH FRQVWLWXWLRQDO GRHV QRW JLYH SUHFLVH GHÀQLWLRQ WR H[DFWO\ KRZ IDU WKRVH SRZHUVH[WHQGRUKRZWKH\DUHOLPLWHG7KHXVHRIHPLQHQWGRPDLQDQG UHJXODWLRQ KDV H[SDQGHG UDSLGO\ LQ WKH ODVW VHYHUDO GHFDGHV OHDGLQJ WR FRQVLGHUDEOHFRQWURYHUV\RYHUZKHWKHUWKHSRZHUVDUHEHLQJDSSURSULDWHO\ XVHG 7KHYROXPH Property Rights: Eminent Domain and Regulatory Takings 101 Re-Examined,HQWHUVWKHGHEDWHDWWKLVSRLQW7KHFKDSWHUVLQWKHERRNDUH EDVHGRQSDSHUVZULWWHQIRUDFRQIHUHQFHDQGWKHFRQIHUHQFHZDVDW OHDVWLQSDUWRFFDVLRQHGE\WKH6XSUHPH&RXUWGHFLVLRQKelo v. City RI1HZ/RQGRQ,QWKDWFDVHWKH&RXUWKHOGWKDWXQEOLJKWHGSURSHUW\FRXOG EHFRQGHPQHGE\DFLW\DQGWKHSURSHUW\FRXOGEHWUDQVIHUUHGWRDSULYDWH HQWLW\ZKLFKZRXOGFDUU\RXWDQHFRQRPLFGHYHORSPHQWSURMHFW The Kelo GHFLVLRQ ZDV QRW WKH À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ÀFDWLRQVRIXVHRIFRQGHPQDWLRQ WRDYRLGKROGRXWSUREOHPV2YHUWLPHKRZHYHUSXEOLFXVHFDPHWRPHDQ SXEOLFSXUSRVHSXEOLFEHQHÀWRUSXEOLFZHOIDUH ,W LV HDV\ WR VHH KRZ WKH FKDQJH LQ WKH GHÀQLWLRQ RI SXEOLF PHDQW VXEVWDQWLDO H[SDQVLRQ RI WKH SRZHU RI JRYHUQPHQW 6HYHUDO FKDSWHUV GHWDLOKRZORFDOJRYHUQPHQWVFDPHWRXVHWKHFRQFHSWRIUHGHYHORSPHQW RI DQ DUHD RI WKHLU FLW\ DV D MXVWLÀFDWLRQ IRU FRQGHPQDWLRQ RI SURSHUW\ 5HGHYHORSPHQWSODQVRULJLQDOO\IRFXVHGRQZKDWZHUHWHUPHG´EOLJKWHG DUHDVµEXWWKDWWHUPZDVQHEXORXVDQGDOORZHGPXQLFLSDOLWLHVFRQVLGHUDEOH IUHHGRP RI DFWLRQ )RU LQVWDQFH D SDUW RI D FLW\ FRXOG EH ´IXQFWLRQDOO\ REVROHWHµ PHDQLQJ WKDW KRPHV ZLWK RQH EDWKURRP FRXOG EH FRQVLGHUHG EOLJKWHGS7KHKeloGHFLVLRQIXUWKHUH[SDQGHGJRYHUQPHQWSRZHUV E\UHPRYLQJWKHQHFHVVLW\RIÀQGLQJEOLJKWDQGVWDWLQJWKDWWKHH[LVWHQFH RIDFLW\GHYHORSPHQWSODQZDVVXIÀFLHQWJURXQGVWRMXVWLI\WKHWDNLQJRI 102 FAITH & ECONOMICS SULYDWHSURSHUW\RQWKHEHKHVWRIDSULYDWHGHYHORSHU 9DULRXVFKDSWHUVSRLQWRXWWKHLPSOLFDWLRQVWKDWÁRZIURPWKHH[SDQVLRQ RIWKHFRQFHSWRISXEOLFXVH)LUVWFLWLHVZLOOPRVWOLNHO\WDUJHWKRXVLQJDQG UHWDLOHVWDEOLVKPHQWVWKDWDUHEHORZWKHPHGLDQYDOXHRISURSHUW\EHFDXVH WD[UHYHQXHZLOOEHLQFUHDVHGE\WDNLQJWKHSURSHUW\DQGFRQYHUWLQJLWWR DXVHWKDWKDVDKLJKHUDVVHVVHGYDOXH7KHUHIRUHFLW\JRYHUQPHQWVZRXOG SXVK IRU WKH XVH RI FRQGHPQDWLRQ EH\RQG WKH SRVVLEOH HIÀFLHQF\ JDLQV IURPWKHORZHULQJRIWUDQVDFWLRQFRVWV7KH\VWDQGWRUHFHLYHDWD[ZLQGIDOO LIFRQGHPQDWLRQVXFFHHGV 6HFRQG WKH IDFW WKDW XUEDQ EOLJKW LV WKH SULPDU\ MXVWLÀFDWLRQ RI FRQGHPQDWLRQPHDQVWKDWHPLQHQWGRPDLQSRZHUVRIWHQKDUPWKHSRRUDQG PLQRULWLHV ZKR OLYH LQ VXFK DUHDV 5HGHYHORSPHQW SODQV XVXDOO\ IRUHVHH WKHUHSODFHPHQWRIORZHUSULFHGKRXVLQJZLWKODUJHVFDOHVKRSSLQJPDOOV ÀYHVWDUKRWHOVRUELJER[UHWDLOVWRUHV 7KLUG WKH IDFW WKDW PRVW UHGHYHORSPHQW LV FDUULHG RXW E\ SULYDWH HQWLWLHVZKRUHFHLYHWKHSURSHUW\ULJKWVDIWHUFRQGHPQDWLRQPHDQVWKDWUHQW VHHNLQJ LV HQFRXUDJHG 'HYHORSHUV KDYH VWURQJ UHDVRQ WR GHYHORS FORVH UHODWLRQVKLSVZLWKFLW\FRXQFLOVSUHVVIRUDUHGHYHORSPHQWSODQWKDWZLOO DOORZWKHPWRUHFHLYHSURSHUW\DWDEHORZPDUNHWSULFHDQGSURÀWIURPWKH GHYHORSPHQW 7KHVH LPSDFWV DUH QRW WULYLDO %HWZHHQ DQG WKHUH ZHUH RYHU FDVHV ZKHUH HPLQHQW GRPDLQ SRZHUV ZHUH WKUHDWHQHG RU XVHGIRUSULYDWHGHYHORSPHQWS,Q&DOLIRUQLDDERXWSHUFHQWRI PXQLFLSDOLWLHVKDYHDUHGHYHORSPHQWDJHQF\S $OO LQ DOO LW DSSHDUV WKDW WKH PDUNHW IDLOXUH DUJXPHQWV WKDW MXVWLÀHG FRQGHPQDWLRQXQGHUWKHSRZHURIHPLQHQWGRPDLQLJQRUHGWKHRWKHUVLGH RIWKHFRLQWKHSRVVLELOLW\RIJRYHUQPHQWIDLOXUHLQXVLQJWKDWSRZHU 5HJXODWRU\WDNLQJVIDFHDQHYHQPRUHVLJQLÀ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ÀHGRQERWKHTXLW\DQGHIÀ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ÀDEOH 7KHRQHSUREOHPZLWKWKHERRNLVWKDWWKHUHLVQRWDFRKHUHQWVHWRISROLF\ FKDQJHVWKDWDUHREYLRXVEXWWKLVODFNRIDJUHHPHQWLVWREHH[SHFWHGIURP DYROXPHZLWKPXOWLSOHDXWKRUV &KULVWLDQHFRQRPLVWVZLOOÀQGProperty Rights: Eminent Doman and Regulatory Takings Re-ExaminedKHOSIXOLQXQGHUVWDQGLQJWKHDSSURSULDWH UROHRIJRYHUQPHQWIURPERWKDQHTXLW\DQGHIÀFLHQF\SHUVSHFWLYH-XVWLFH RUHTXLW\LVVXHVDERXQGLQWKHGLVFXVVLRQRIHPLQHQWGRPDLQDQGUHJXODWRU\ WDNLQJV (IÀFLHQF\ IRFXVHV RQ PRYLQJ UHVRXUFHV WR WKHLU KLJKHVW YDOXHG XVH7KHSRZHURIJRYHUQPHQWRYHUSULYDWHSURSHUW\ULJKWVLQDZRUOGRI SRVLWLYHWUDQVDFWLRQFRVWVKDVWKHSRWHQWLDOWRDLGLQWKHHIIHFWLYHDOORFDWLRQ RIUHVRXUFHV+RZH[WHQVLYHWKDWSRZHUVKRXOGEHLVZHOOWUHDWHGLQWKLV YROXPHQ
© Copyright 2026 Paperzz