Legal experts are warning CRE property owners they need to prepare for an onslaught of eminent domain land seizures by government entities initiating projects funded by the $1.2-trillion Infrastructure Investment and Jobs Act signed into law by President Biden in November.
"The (Infrastructure) Act will undoubtedly lead to a significant increase in eminent domain activity to acquire the property rights necessary to implement new infrastructure projects. Many businesses are not ready (for this)," the National Law Review said in a recent report.
The tsunami of federal spending, spread over the next five years, will support a wide range of infrastructure projects—including new roads, bridges, rail, mass transit, electric power transmission and water systems—many of which will involve government entities establishing right-of-way access by seizing private property using eminent domain.
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