Genova Burns Obtains NJ State Appeals Court Ruling for Client from the City of Jersey City
Firm attorneys Jennifer Borek, Lawrence Bluestone and Michael C. McQueeny successfully argued on behalf of firm client MEPT Journal Square Urban Renewal LLC, MEPT Journal Square Tower North Urban Renewal LLC and MEPT Journal Square Tower South Urban Renewal LLC (MEPT entities) and secured a ruling from the New Jersey state appeals court requiring Jersey City to repay a $2 million prepayment the MEPT entities were required to pay to obtain a PILOT tax abatement for a redevelopment project.
The entities sued Jersey City after deciding not to move forward with the redevelopment project and conveying the undeveloped properties in December 2014 to a different redeveloped.
In a published opinion, a three-judge appellate panel affirmed a trial court ruling that required Jersey City to refund the $2 million to the MEPT entities after finding “no statutory support” under the state’s Long Term Tax Exemption Law for the city to condition the tax breaks on that prepayment to help address a municipal revenue shortfall.
Please click here to read a Law360 article which covers this recent win for Genova Burns.