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http://ssrn.com/abstract=2359566
 
 

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The Four-Factor Penn Central Regulatory Takings Test


Steven J. Eagle


George Mason University School of Law

November 25, 2013

Penn State Law Review, Vol. 118, No. 3, 2014 Forthcoming
George Mason Law & Economics Research Paper No. 13-67

Abstract:     
The Article examines the ad hoc, multifactor, regulatory takings doctrine derived from Penn Central Transportation Co. v. City of New York. It analyzes the conventional three-factor characterization of the Penn Central tests, and concludes that a four-factor approach better captures the dynamics of Penn Central analysis. “Parcel as a whole,” conceptually regarded as delimiting the relevant parcel for the Penn Central inquiry, in fact interacts with the “economic impact,” “investment-backed expectations,” and “character of the regulation” tests.

While the four-factor analysis advocated here is conceptually better and enhances understanding of how Penn Central operates, the doctrine remains under-theorized, subjective, with its factors mutually referential, and unable to provide a reliable guide to courts or litigants.

Number of Pages in PDF File: 52

Keywords: Polestar, Lucas, Grand Central Terminal, landmarks preservation, Henry George, multi-factor balancing, air rights, transferable development rights (TDR), mitigation, Armstrong, Tahoe-Sierra, Kavanau, subjective intent, Casitas, temporary investment, CCA Associates, Cienega X, unity of ownership

JEL Classification: K11, R52, H77

Accepted Paper Series





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Date posted: November 27, 2013  

Suggested Citation

Eagle, Steven J., The Four-Factor Penn Central Regulatory Takings Test (November 25, 2013). Penn State Law Review, Vol. 118, No. 3, 2014 Forthcoming; George Mason Law & Economics Research Paper No. 13-67. Available at SSRN: http://ssrn.com/abstract=2359566

Contact Information

Steven J. Eagle (Contact Author)
George Mason University School of Law ( email )
3301 Fairfax Drive
Arlington, VA 22201
United States
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