Not if the city just takes the property at NO COST and NO PAYMENT to the bank.
Taking property by eminent domain requires a fair payment to the owner, but I guess no one really cares about laws anymore so I guess you’re right.
Can’t be done. Even eminent domain is a legal action and process that has to go by the laws that govern such seizure.
That cannot be done other than fair market value and even that can be successfully challenged.
It will cost billions
exactly. It’s been happening since the 90’s in the City of Rochester. They have a point system where even if something is not your fault, let’s say random residents start selling crack on or near your property, the City can literally take your property away with zero compensation.