Developer Agrees To Pay Family In Eminent Domain Case $21M

“The city paid the family $1.2 million for the waterfront property. But a jury in 2008 determined the actual fair market value to be $18 million, which with interest has risen to $21 million.

“The Kerrigans, seeking payment of the four-year-old judgment, sued Mocco, the JCRA and the city last year…. Bill Ward, the Kerrigans’ Florham Park attorney, said the family views the settlement as the best prospect for the $21 million judgment to be fulfilled.”