Ferry Plaza Urban Renewal, L.P. v. City of Newark

Plaintiff, Ferry Plaza Urban Renewal, L.P., appeals from entry of an order on April 19, 2002, granting summary judgment in favor of defendant, City of Newark, dismissing plaintiffs complaint and denying plaintiffs motion for summary judgment. We affirm.

Plaintiff proposed to develop and operate a commercial project on premises known as 290 Ferry Street in the City of Newark that fell within the Long Term Tax Exemption Law (the “Act”), N.J.S.A. 40A:20-1 to -20. Under that Act, a municipality is permitted to extend an exemption from taxes on improvements to an entity which proposes to undertake…