ChicagoForeclosureseminent domainForeclosure Crisis

Rahm Emanuel Opposes Using Eminent Domain To Combat Foreclosures

Mayor Opposes Bold Plan To Help Homeowners
By 

Politics Editor, The Huffington Post

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CHICAGO, IL - JULY 09: Chicago Mayor Rahm Emanuel speaks during a press conference in the Englewood neighborhood on July 9, 2012 in Chicago, Illinois. The mayor announced an initiative to identify, secure, or demolish vacant buildings in the city to prevent gangs from using them as gathering places. The city has seen a sharp increase in gang-related violence in 2012. There have been 259 homicides in Chicago through June, a 37.8 percent increase from last year. There have been 16 homicides recorded so far in July. (Photo by Scott Olson/Getty Images)

Mayor Rahm Emanuel has spoken out against a proposal that would use the government's power of eminent domain to help mitigate Chicago's foreclosure crisis.

"The idea of using eminent domain is not one I support ... because I don't think it's the right way to address the problem," Mr. Emanuel said during an unrelated press conference today at the newly renovated Morse Red Line station. "I don't think it is the power of the city to deal with the housing issue. We have a national issue. I think we have to address the issue. I just don't think that is the right instrument."

Read more on Crain's Chicago Business

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