Should City of Richmond buy real estate just because it is unsightly?

There is an interesting proposal being reviewed by Richmond City Council. They are considering putting up tax dollars to purchase the BP gas station at the corner of Meadow and Cary street on the outer corridor of the Fan District. As many residents know this station is unsightly and has had a history of drug and crime related activity. However, is it the city’s role to purchase a property/business just because residents feel the property/business is unsightly? I think it is an interesting question that needs debating. Richmond BizSense has a good article covering some of the details.