The American Securitization Forum Thursday protested a North Las Vegas vote to move forward with
ASF executive director Tom Deutsch in a statement issued by the group called the decision “short-sighted and dangerous,” saying it puts “the city and its taxpayers in the middle of a constitutional law maelstrom.”
He said, “If North Las Vegas were to ultimately use eminent domain in this manner, the ability for its citizens to get a first-time mortgage or to refinance will become appreciably harder and more expensive, which would further depress home prices in the area.”
The city is in the midst of a changing of the guard in terms of its leadership and the group hopes to convince the mayor-elect, John Lee, next month to reverse the decision, Deutsch said.
He noted that other municipalities have considered similar proposals but ultimately decided not to pursue this type of move.
