June 1, 2010 | No Comments
Posted by Michael Bruno
On May 19, 2010, the New Jersey Supreme Court in Iron Mountain Information Management, Inc. v. The City of Newark refused to expand to tenants, even those tenants with heightened property rights such as a right of first refusal, the right to notice that the Local Redevelopment and Housing Law affords to certain property owners. The Supreme Court held that a long term tenancy, with a limited right of first refusal, does not have a protected interest in the property that is equivalent to the building owner’s interest in the property that is subject to a potential blight designation. The Court confirmed that in the blight designation context, the Local Redevelopment and Housing Law limits the right to notice to “owners of record and those whose names are listed on the tax assessor’s records.” As noted in my earlier blogs this month, May has been a boom month for redevelopment as we are finally starting to see a more balanced approach by the Court’s in limiting the power of objectors to redevelopment designations. Municipalities must remain diligent and thorough in designating an area in need of redevelopment. However, the Suburban, Powerhouse and Iron Mountain cases, all decided in May of 2010, are all good news for the redevelopment community.