You are correct. The $5 million was the asking price from the heir decades later. He sold for ~500K
The eminent domain case was started by the prior developer, Bob Guccione, in the 1970’s, not by Trump who took over the project. Guccione offered $1 million. Vera’s neighbors that sold after Trump became involved got $2 million which is what he has stated she was offered.
Atlantic city was desperate to host urban renewal projects and their decisions were based on trying to get a tax base and revitalize a decaying city. Atlantic City officials were the ones that condemned Vera’s house to get her out. She went to court and won because the city had not defined clearly what Trump could do with the property.
Eminent domain is vulnerable to abuse but offering the city a project is not the issue. Its the officials that need to be scrupulous about whether the public good is important enough to impose their will on an individual.
Great post! If Coking’s neighbors received couple of $million each why Coking would not be offered similar price? Cruz supporters are grabbing any little stick floating nearby, since the flood is deep.
Eminent domain is for public USE. The term public good is so broad that it could literally encompass anything.