Law firms sets up redevelopment team.McCarter & English has created a redevelopment group to provide multidisciplinary mul·ti·dis·ci·pli·nar·y adj. Of, relating to, or making use of several disciplines at once: a multidisciplinary approach to teaching. legal representation to contractors, developers and property owners in all phases of municipal redevelopment projects. "These are time-sensitive and challenging endeavors, dependent upon careful determinations, sound planning and the precise documentation of responsibilities," said Susan A. Feeney, the McCarter & English partner who chairs the new group. "Our lawyers have decades of experience securing municipal bonds for funding, overseeing demolition Demolition is the opposite of construction: the tearing-down of buildings and other structures. It contrasts with deconstruction, which is the taking down of a building while carefully preserving valuable elements for re-use. , obtaining long-term tax abatements and drafting redevelopment contracts, abatement A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent. With respect to estates, an abatement is a proportional diminution or reduction of the monetary legacies, a disposition of property by will, when applications and financial agreements. By formalizing the redevelopment group, we will be able to organize these services more efficiently and give our clients, who range from individuals to Fortune 50 companies, a better handle on the process." The McCarter & English redevelopment group integrates the primary areas of legal services legal services n. the work performed by a lawyer for a client. required in such projects: redevelopment area proceedings and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . The municipal designation of a redevelopment area has significant implications for property owners. The designation may result in the forced sale of the property through exercise of eminent domain eminent domain, the right of a government to force the owner of private property sell it if it is needed for a public use. The right is based on the doctrine that a sovereign state has dominion over all lands and buildings within its borders, which has its origins in , a process involving various mandatory procedural steps and public hearings. Active and timely involvement in the process can be crucial to protecting the rights and interests of property owners. |
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