Acquire Property using IDA’s Eminent Domain Power

Hodgson Russ represented an IDA considering an application by the city's local development corporation to acquire blighted property using the IDA's eminent domain power. Once acquired, the application contemplated the IDA transferring the acquired property to the local development corporation, which would then proceed to requests for proposals for redevelopment. Our attorneys guided the IDA through every step of the process, including the Article 2 public hearing and notices, securing the appraisal and making the initial offer, defending the challenge at the Appellate Division to the Determination and Findings, and obtaining an order to file an acquisition map.