Archive | Land Banking

DOES ACQUIRING PROPERTY TO RETURN IT TO PRODUCTIVE USE SERVE A VALID PUBLIC PURPOSE? OR, IS LAND BANKING SPECULATIVE AND IMPROPER?

          The Second Department handed down two decisions in two consecutive weeks deciding challenges to determinations adopted to condemn property by eminent domain for the purpose of returning the property to productive use in accordance with the City of Yonkers Master Plan in two separate urban renewal plans.  Matter of One Point St. Inc. v City of Yonkers Indus. Dev. Agency, ____ AD3d ____, 2019 NY Slip Op 01769 (March 13, 2019); Matter of City of New York v Yonkers Industrial Development Agency, ____ AD3d ____, 2019 NY Slip Op… read more

Posted in Challenges to Condemnation, EDPL Sec. 207, Land Banking, Speculative Taking, Uncategorized
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