This latest article finally sheds a lot of light on the situation:
https://www.northjersey.com/story/news/ ... 842594001/
Apparently the rail equipment was also claimed by the IRS and sold to the developer (apparently without him fully realizing it). I thought this might be the case but bit my tongue.
The city is going to buy part of the ROW for parkland, and the developer will build out houses on the former terminal.
Unless the developer decides to sell some of the rail equipment, it's probably all going into a scrap bin. With the city buying the old dundee yard, there'll be no tracks to haul them out on.
I guess no one has any obligation to return the old D&ME car (the only piece of equipment on site that did not belong to NYGL). Maybe it's owner could go after the irs, the developer or NYGL for the cost of the car, but that sounds like quite the legal fiasco. I held out hope that maybe some of the other equipment (if still owned by jimmy, which it is apparently not) could be pulled if that car was ever dragged back to the interchange.
At least it's clearer now who owns the equipment, and who could be contacted if anyone wants to buy any of it. The developer will probably have to spend to scrap it, but could maybe write some off on taxes as a donation to a legit non-profit? His name is in the article. if I lived there I'd be calling the mayor asking them to see if they can get one or two bits for a historic park display.