Eminent Domain Hinders Development
So says the Federal Reserve Bank of St. Louis, when it comes to taking property and turning it over to private parties. Here's the money paragraph, as recounted by the linked article:
Research has shown that without property rights, individuals will no longer face the the incentive to make the best economic use of their property, be it a business or home, and economic growth will be limited. Potential residents and businesses may avoid communities that have a record of taking private property for economic development because of a greater uncertainty about losing their property to eminent domain.