via Fark:
1. Seize 5,000 homes through eminent domain, paying $150K ea. 2. Make citizens pay $190K to get homes back. 3. Pay off the guys who gave you this idea. 4. Profit
LAS VEGAS (CN) - The City of North Las Vegas is endangering its financial status with a cockeyed plan to seize up to 5,000 homes through eminent domain, buy them with public money and flip them, a man claims in court.
Gregory D. Smith sued North Las Vegas, its City Council and City Attorney Jeffrey Barr, in Federal Court. They are the only defendants.
"The City of North Las Vegas has entered into and embarked upon a plan to use the power of eminent domain to condemn and seize privately-owned residential mortgage loans in the City," the complaint states.
more
Courthouse News Service
1. Seize 5,000 homes through eminent domain, paying $150K ea. 2. Make citizens pay $190K to get homes back. 3. Pay off the guys who gave you this idea. 4. Profit
LAS VEGAS (CN) - The City of North Las Vegas is endangering its financial status with a cockeyed plan to seize up to 5,000 homes through eminent domain, buy them with public money and flip them, a man claims in court.
Gregory D. Smith sued North Las Vegas, its City Council and City Attorney Jeffrey Barr, in Federal Court. They are the only defendants.
"The City of North Las Vegas has entered into and embarked upon a plan to use the power of eminent domain to condemn and seize privately-owned residential mortgage loans in the City," the complaint states.
more
Courthouse News Service