1. If any condemning authority abandons a condemnation, each owner of interests sought to be condemned shall be entitled to recover:
(1) Their reasonable attorneys' fees, expert expenses and costs; and
(2) The lesser of:
(a) The owner's actual damages accruing as a direct and proximate result of the pendency of the condemnation if proven by the owner; or
(b) The damages required to be paid to an owner in the event of an abandonment under the terms of the applicable redevelopment plan or agreement.
2. The provisions of this section shall only apply to redevelopment plans or agreements entered into after December 31, 2006.