Court May Not Simply Average Expert Appraisals to Determine Valuation

September 4th, 2009 | Posted by: Christopher DeGrezia 0| comments:

By Matthew Barndt, Esq.      dsc_0349aa - valuation (coast guard station case)

When value is in dispute, the parties often engage competing experts to assist the court in rendering a decision.  A recent New Jersey appellate decision concluded that in such cases simple averaging of the valuations reached by competing experts “is not an appropriate methodology for assessing divergent values.” » Read the rest of this entry «

NJ Appellate Division Rules that Commercial Tenants are not Entitled to Personal Notice of a Redevelopment Designation but can Challenge the Designation in a Condemnation Action

July 9th, 2009 | Posted by: Christopher DeGrezia 4| comments:

city-streetBy Andy S. Norin, Esq. and Joshua J. Franklin, Esq.

On March 13, the Appellate Division decided Iron Mountain Information Management Inc. v. City of Newark, 405 N.J. Super. 599, which addresses the scope of the Appellate Division’s prior ruling in Harrison Redevelopment Agency v. DeRose, 398 N.J. Super. 361 (2008), regarding notice requirements under the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (LRHL). In DeRose, the court ruled that a landowner whose property was designated as an “area in need of redevelopment” retains the right to challenge that designation, even after the 45-day limitations period prescribed by the LRHL, unless the landowner receives written notice, at the time of the redevelopment designation, explaining that the designation authorizes the municipality to acquire the property by eminent domain. » Read the rest of this entry «

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