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Re: Jury says Jersey City must pay owners $18.6 million for land it seized through eminent domain.
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Home away from home
 
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Good for them. A majority of other states (not NJ or NY) have banned the use of eminent domain to seize property from a private owner and hand it over to another private owner. The incentive for corruption when one private entity can get the government to give them an involuntary good deal on someone else's property is obvious.
The attempt to seize the Flamingo diner and the Golden Cicada failed, hopefully this will too. I find the argument that the property is ten years away from being developed mystifying - how is that an argument for seizing it now or ever? Quote:
Posted on: 2008/9/25 1:00
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Jury says Jersey City must pay owners $18.6 million for land it seized through eminent domain.
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Home away from home
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Jury says Jersey City must pay owners $18.6 million for land it seized
Jersey Journal by Ken Thorbourne Tuesday September 23 Byron SmithWarren Drilling operates its business on land that was seized by Jersey City through eminent domain. The last chunk of property needed to be acquired for the Liberty Harbor development in Downtown Jersey City just shot up in price -- way, way up. A jury sitting in Superior Court in Jersey City on Monday awarded Ronald Kerrigan, his wife Lynn, and his sister Katherine, $18.6 million for their 3.4-acre holding at the foot of Jersey Avenue, according to city officials and the family's Florham Park attorney, William J. Ward. But it could be a while before the Kerrigans can count their riches. Before the day was out, Jersey City Redevelopment Agency Executive Director Robert Antonicello said his agency -- which seized the property through eminent domain -- is appealing the award. "This property is at least 10 years away from being developed," Antonicello said. "There is not even a street there." The city's last offer for the property, which has views of Manhattan, the Statue of Liberty and Liberty State Park, was $3.8 million. The deed to the property -- which is rented to Warren George, a drilling operation -- has already been turned over to Peter Mocco, the developer of Liberty Harbor, officials said. And Mocco has more than a passing interest in the outcome of this compensation case. As part of his redevelopment deal with the city, he is on the hook to reimburse the city legal fees and acquisition costs for any property being taken for the Liberty Harbor project, officials said. Mocco was mum yesterday about the jury's award. "This is being handled by the JCRA," he said. "I think it is inappropriate for me to make any comment."
Posted on: 2008/9/24 13:32
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