ECON 367 Lecture Notes - Lecture 56: Louis Brandeis, Diminution
Document Summary
The test = balance the purpose of the regulation and the effect on the landowner. Penn central transportation co. v. city of new york (438 u. s. 104, 1978) Facts: city designates grand central station an historic site, prohibiting development. City prohibits development of highrise on top of station. Penn sues for compensation for a taking of its development rights. Reasons: three pronged test: purpose of regulation - does it prevent actions harmful to the public? (mugler, effect on the landowner - what is the extent of the diminution of value? (penn. Coal: reasonable expectations test - does the regulation interferes with the. Investor-backed expectations : nuisance exception, the test = exception to diminution of value test if development amounts to a nuisance, lucas v. south carolina coastal council (112 s. ct. Lucas v. south carolina coastal council (112 s. ct. Facts: developer buys two beachfront properties with intention to develop.
