REDEVELOPMENT OF EXISTING SITES AND BUILDINGS MARK ELLIOT & DAVID KIRK Moratoria A final consideration when planning for a redevelopment project is the potential for the local governing authority to institute a moratorium on new zoning applications, new building permits for particular uses, or other essential approvals. While such moratoria are required to be "temporary" in nature, courts look to the particular facts and circumstances of each case to determine if a moratorium lasts so long as to overly restrict property development and result in a compensable "taking" of property. As a result, a moratorium may last several months while the local government takes steps to address the purpose of the moratorium, such as the drafting of regulations governing mixeduse redevelopment. Leases With leases, there are matters and standard lease terms of which the owner which intends to densify must be aware. Most of what is discussed here for leases comes out of negotiated terms in leases; they are "market" terms, but they appear in a lease that has been fairly negotiated; this is a problem where there is a large tenancy. The key for an owner to keep in mind is that leases exist in the building(s) being impacted, and the lease is a complex contract; if redevelopment or densification violates the terms of the contract, then the owner could be liable to the tenant in damages; be subject to injunction; or risk a termination of the contract (lease), if the violation goes to a material element of the bargain. None of these possibilities are matters owners desire to face, when trying to create more leasable space, for more cash flow; losing a tenant because of a material lease violation is going backwards. What are the areas in leases that an owner in this situation ought to pay attention to? Where do traps lie? The answer will depend on the type of densification desired.