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Owner awarded approx. $25M for condemnation of private property in Harrison, NJ

April 15th, 2011 — In News & Events

Owner awarded approx. $25M for condemnation of private property in Harrison, NJ

In a recent arbitration, a panel of arbitrators awarded property owner, Harrison Eagle, LLP nearly $25 million for the taking of approximately 10 acres of property adjacent to the PATH commuter rail station and proximate to the Red Bull Arena in Harrison, NJ. The town’s redevelopment agency used the power of eminent domain to take the private property and convey it to a private redeveloper and as such the arbitration amount is to be paid to the owner by the developer, Pegasus Group.

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April 13th, 2011 — In News & Events

Private Property Rights Protection Act of 2011

Yesterday, Representatives Jim Sensenbrenner (R-WI) and Maxine Waters (D-CA) introduced H.R. 1433, the “Private Property Rights Protection Act of 2011.” This bipartisan bill prohibits states and municipalities from using eminent domain for private development if they have received federal economic development funds. H.R. 1433 also prohibits the federal government from using eminent domain for economic development, the taking of private property and transferring of it to another private entity in order to increase tax revenue, jobs or for general economic growth.

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