You've got that right. To add insult to injury, in waiving our 5th Amendment *guarantee* against taking of private property for private use, cities will use TIF "tax increment financing" or some financing variant: in other words, the "benefit zone"--you & me, if our homes were or were not taken--will pay for the `re-development'.
Nice work if you can get it.
In other news, a spokesman for the Supreme Court of the USSA announced that they would be waiving, as well, our guaranteed rights under the 1st through 4th Amendments.
"And if you don't like it, well, that's hard cheese--appeal!"
http://www.triggerfinger.org/weblog/group/category/constitution/5th_amendment/index.jsp
You just aren't enlightend as the Supremes. "Guarantee against taking of private property for private use," now = just the reverse; guarantee that it will happen.
This is what happens when the Supremes apply 'World law' to cases. In this case it was Robert Mugabe's Zimbabian rule of law.