CAF Investment Co. v. Saginaw Township

I am in agreement with Justice Ryan’s analysis and disposition and have therefore signed his opinion. I write separately to address some of the considerations treated in the other opinions.

I

The lease between C.A.F., as lessor, and K-Mart, as lessee, is referred to in Justice Moody’s opinion as an unfavorable lease for the lessor. Justice Fitzgerald’s opinion seems to be saying something akin: that K-Mart was able to receive more favorable lease terms than a more marginal tenant and that that was a factor justifying the Tax Tribunal in not considering actual income. It is further suggested…