if JC, NJ and Hyma can get their act together, an embankment park would be a god-send for a rapidly progressing JC

Interesting thought Dolomiti, thanks.

The President of the Embankment Preservation Coalition, Stephen Gucciardo, is quoted as saying:

If Hyman does not appeal the recent ruling, Gucciardo said the city will have a chance to buy the property for the original sale price of $3 million.

So there is a chance to purchase at the 3 million price tag. Even back in 2003, the Embankment swath was worth way more than 3 million, so I wonder how on earth Conrail agreed to a price this low. Unless, the 3 million was the price of the option, in which case I could undestand. Wold be nice if one of the local media outlets took this story and reported in depth.

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I'm not sure that is correct.

If this ruling holds up (which seems likely, but not guaranteed) then the original sale is voided. Conrail resumes ownership of the property.

Conrail then has to file for abandonment with the STB. If it's approved, then Conrail can put it on the market. They will be required by law to offer it to Jersey City at the same terms as they would a developer.

However, there are lots of potential issues. Conrail might delay or refuse to file for abandonment, which would hold up the process indefinitely. They may claim that since the 2003 sale was voided, they can set a new price for the property. As they did in 2011, the Zoning Board is highly unlikely to approve tearing down the Embankment if the City doesn't back it. It is guaranteed that there will be much more litigation if a deal is not struck.

Fortunately, it is possible that all parties will strike some sort of compromise; they came close in 2012, when Hyman and the City agreed to a deal (Conrail backed out). Unfortunately, as more time goes on, the property appreciates in value, which increases the incentives for Conrail and Hyman to hold onto development rights. I'd guess that the potential increase in returns outweighs their legal costs.

So this ruling is a good step forward, but it is unclear how long this will go on, or how much the property will actually cost the city.

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None of the above, according to Hyman's attorney, who's not about to suggest to his cash cow that he end this ridiculous boondoggle.

?It doesn?t give them a park,? attorney Dan Horgan said about the ruling. ?It just exposes this to years of litigation ? it doesn?t get anyone anywhere.?

Horgan said his clients would likely appeal last week?s ruling. He also disputed city officials? belief that the decision could lead to the city owning the property.

?It?s one additional step in a process that?s gone on for eight years that?s cost the taxpayers of Jersey City millions of dollars,? Horgan said. ?It won?t resolve itself this year or next year or the year after.?

http://www.nj.com/hudson/index.ssf/20 ... _ruling_as_clear_win.html

If Hyman doesn't appeal(again?), the city gets to buy the property for the original sale price of $3M.

http://www.nj.com/hudson/index.ssf/20 ... html#incart_river_default

Well this certainly sounds hopeful.

Does anyone know how this plays out legally in terms of the invalidation? Does the city now pay an amount equivalent to what Hyman paid? Is there a way the city can sue Hyman for dragging this out for so long to the detriment and consternation of its people? I mean, if it was so obvious and all, shouldn't Hyman be run out of town for this?

SO does that finally mean no more of Hyman's BS?

Hoorah!

Robin.

Jersey City, RTC, Coalition Prevail at U.S. Court of Appeals, D.C. Circuit

Appeals Court Affirms District Court's Summary Judgment

February 19. A three-judge panel of the U.S. Court of Appeals in Washington today affirmed the regulated legal status of the Harsimus Branch and its historic Embankment. The higher court agreed with the September 30, 2013, ruling by the U.S. District Court, District of Columbia, that the Harsimus Branch is a rail line subject to Surface Transportation Board (STB) jurisdiction.

Wholly apart from STB regulation, this means, as the current owner's attorneys have elsewhere admitted, that the current owner's deeds are invalid. Moreover, under applicable state law, at a minimum the line cannot be sold by Conrail to a developer without its first being offered to the City of Jersey City on equivalent terms. The City desires to acquire the property for historic preservation, park, open space, trail, and transportation corridor purposes.

Responding to the Appeals Court ruling, Jersey City Mayor Steven Fulop said, "This is another important step that only serves to validate the City's position on the Embankment. We are committed to this fight and partnership with the Embankment Coalition to create a world-class citywide park in Jersey City. "

Charles Montange, joint federal rail attorney for Jersey City, RTC, and the Coalition, said, "The United States Court of Appeals for the D.C. Circuit appropriately made short shrift of the continued efforts by the developer to prolong this litigation. As Conrail has made clear, the developer has known or at least should have known all along that the Harsimus Branch was a line of railroad subject to the abandonment jurisdiction of the federal Surface Transportation Board. As such, it could not lawfully be abandoned by Conrail, much less sold to the developer, without prior authorization from STB, which Conrail neither sought nor obtained. This has not only unlawfully imperiled an important historic asset (the Harsimus Embankment) but also threatened with complete dismemberment the last undeveloped transportation corridor that can serve downtown Jersey City, much less the East Coast Greenway."

Embankment Preservation Coalition president Stephen Gucciardo said, "The Coalition board thanks the City of Jersey City and Rails to Trails Conservancy for their partnership. We are grateful to the local and regional organizations that have been our allies for years. We are especially indebted to our local community for their steadfast support. We look forward to working with the community during the anticipated historic assets review. We will continue to work for preservation of the historic site and its appropriate reuse as a linear park, destination on the East Coast Greenway, and transportation corridor for the 21st Century."