(1) As used in this article, the term "development" includes redevelopment.
A vested property right arising while one local government has jurisdiction over allor part of the property included within a site specific development plan shall be effective against any other local government which may subsequently obtain or assert jurisdiction over such property.
Nothing in this article shall preclude judicial determination, based on common lawprinciples, that a vested property right exists in a particular case or that a compensable taking has occurred.
This article shall apply only to site specific development plans approved on or afterJanuary 1, 1988.
Source: L. 87: Entire article added, p. 1840, § 1, effective January 1, 1988.