September 25, 2008 (Harrison, NJ) As promised here are the settlement amounts for Anthony DeRose, Manny Amaral and Steven Adler. DeRose will receive 1.4 million for his property on Sixth Street. Amaral will receive 4.5 million for his property along South Frank E. Rodgers Blvd. Steven Adler will receive an initial 5 million to settle the "blight" count of his complaint. In addition, Adler and the Harrison Redevelopment Agency will submit to arbitration two issues: 1. the value of Adler's buildings which have been demolished. 2. The contribution (if any) that Adler must make to the cost of removing contaminated soil from his properties.
Adler has contended that his building were worth an additional 14 million dollars and that the cost of removing contaminated soil is limited to what would have been necessary if he continued to utilize his properties for parking and light industrial uses. The remediation that has been done is more costly since the properties will be used for residential purposes. It is estimated that Adler may be awarded another 10 million dollars or so after arbitration is completed. It is not clear whether the designated redevelopers will be solely responsible for the payment of the settlements or whether taxpayer dollars will be used.
The Observer ran a very comprehensive story in this week's edition entitled Harrison Commons Lawsuit settled The Observer has not always gotten both sides of the Harrison Redevelopment story. This week's article is balanced.
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