Let's correct a couple of things.
==> I think it is a travesty, to think an American can lose their home to a private interest.
Americans cannot lose their homes to private interests. This case is about a public city administration exercising eminent domain. The government has been doing this for years to build highways and public schools.
==> If I don't do it, someone else will is one of the altars on which ethics are sacrificed.
Whether or not you choose to act or not is in accordance with your own ethics, but has no bearing on the choices and ethics of another. I fully understand why someone would choose not to work on such a project, but in my opinion, this would be case of cutting off your nose to spite your face. What's done is done, and no amount of protesting will undo the acquisitionn. As a citizen, I rile against the decision, and will use my voice and vote to change the government so that it doesn't happen again. However, I would much rather see an engineer with good ethics insure that the land, which has already been taken, is not abused by those who don't care.
Your point about such a project having a taint of dishonesty is very valid, and probably true. All the more reason for ethical engineers to get involved. This is not a situation where corners should be cut.
But remember, private companies do not have the power of eminent domain, and this is not a private matter. This is a city appropriating the land.
In case there is any doubt, I do not like the decision, nor am I in favor of it, it is what it is. Now, it is incumbent on us to change the people who made the decision.
Good Luck
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As a circle of light increases so does the circumference of darkness around it. - Albert Einstein