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Worse than vacant land will be land with abandoned structures, which would need to be demolished at someone's expense. Especially industrial sites where there m
by SoftTalker 1y ago
Worse than vacant land will be land with abandoned structures, which would need to be demolished at someone's expense. Especially industrial sites where there may be hazardous waste, underground tanks, etc. present as well.
- bobthepanda 1y agoRight but there's not much of a difference between the government taking title and having to do it, and the government suing somebody who won't do it and then probably having to do it anyways. Most Rust Belt cities had to do something like this because it turns out that just letting derelict property go resulted in neighborhoods death spiraling.
- SoftTalker 1y agoYep. We should probably have industrial developers pay into some kind of fund that is then available to pay for cleanup if the site is abandoned. Basically insurance against a bankrupt owner leaving a mess for the public to deal with. Instead we often give them tax abatements and other incentives with little recourse if they don’t deliver the promised economic growth and jobs.