New Jersey Land Use and Environmental Law

By Michael J. Lipari, Esq.

In his last full day in office, ex-Governor Jon Corzine signed legislative bill A-4347 that extends all permits and approvals that were subject to the Permit Extension Act of 2008 (“PEA”) through 2012. Corzine did not sign legislative bill A-4345 that would have extended the requirement of wastewater management planning agencies to establish or update wastewater management plans, and extended validity of sewer service areas and wastewater service areas, until April 7, 2011.

Continue reading "Ex-Governor Corzine Acts (and Fails to Act) on Legislation in Final Full Day in Office" »

Posted by Henry T. Chou, Esq. at 02:09 PM | Permalink | Comments (0) | TrackBacks (0)

By: Henry T. Chou, Esq.

On July 27, 2009, Governor Corzine signed into law an economic stimulus bill (A-4048/S-2299) aimed at reinvigorating the real estate development industry through innovative tax incentives and fee moratoriums, among other measures.

Continue reading "Governor Corzine Signs Economic Stimulus Bill Eliminating 2.5% Non-Residential Development Fee" »

Posted by Henry T. Chou, Esq. at 02:25 PM | Permalink | Comments (0) | TrackBacks (0)

By: Henry T. Chou, Esq.

In response to the State's recession woes, the Legislature has passed an omnibus economic stimulus bill (A-4048/S-2299) aimed at reinvigorating the real estate development industry through innovative tax incentives and fee moratoriums, among other measures.

Continue reading "Legislature Passes Economic Stimulus Bill and Eliminates 2.5% Non-Residential Development Fee" »

Posted by Henry T. Chou, Esq. at 05:43 PM | Permalink | Comments (0) | TrackBacks (0)

By: Henry T. Chou, Esq.

Apparently bowing to the pressure of mayors throughout the State, Governor Corzine has conditionally vetoed legislation that would have allowed builders to convert age-restricted (55+) residential developments to non-age restricted developments that would be open to persons of all ages.

Continue reading "Governor Corzine Conditionally Vetoes Housing Bill" »

Posted by Henry T. Chou, Esq. at 03:23 PM | Permalink | Comments (0) | TrackBacks (0)

By: Henry T. Chou, Esq.

Over a month ago, both Houses of the New Jersey Legislature passed a bill (A3772/S2577) that would allow certain approvals for age-restricted (55+) developments to be converted to approvals for non-age restricted developments, provided the builder meets certain conditions and agrees to provide a percentage of affordable housing as part of the development.

Continue reading "Possibility of school-age children (gasp!) threatens housing bill" »

Posted by Henry T. Chou, Esq. at 12:35 PM | Permalink | Comments (0) | TrackBacks (0)

By: Henry T. Chou, Esq.

On March 16, 2009, the New Jersey Assembly and Senate adopted a bill (A3772/S2577) that would allow certain approvals for age-restricted (55+) developments to be converted to approvals for non-age restricted developments. The bill would allow developers who have obtained approvals for age-restricted projects to apply to planning boards to remove the age-restriction, provided that the developer is not holding any deposits for the sale of age-restricted homes or has not already conveyed any such units.

Continue reading "Legislature Adopts Bill to Allow Conversion of 55+ Housing to Non-Age Restricted Housing" »

Posted by Henry T. Chou, Esq. at 02:35 PM | Permalink | Comments (0) | TrackBacks (0)

By: Henry T. Chou, Esq.

In today’s depressed real estate market, certain products that were attractive as little as two years ago are no longer in demand. In most circumstances, economically rational builders who have approvals or zoning for such products cannot carry their undeveloped land indefinitely while hoping that the demand will improve some years down the line. In today’s climate of frequent regulatory changes, economic realities require builders to explore alternative strategies for turning a profit on their properties.

Continue reading "Strategies for Modifying, Preserving and Extending Approvals to Deal With Changed Market Conditions" »

Posted by Henry T. Chou, Esq. at 12:58 PM | Permalink | Comments (0) | TrackBacks (0)

By Henry T. Chou, Esq., and Donald R. Daines, Esq.

In an ideal world a homebuilder turns land into homes and sells them as soon as possible because undeveloped land cannot be monetized. Additionally, the cost of carry, including real estate taxes, financing costs and completion guarantees, provides strong incentives for builders to keep building. The stronger sales are the more land builders seek to acquire. In this context, the real estate market compels builders to respond swiftly to consumer preferences.

Today’s depressed real estate market is far from ideal, and it presents builders and developers with some daunting challenges. For example, the weak market conditions result in the possibility that approvals and permits may lapse with the passage of time. This article addresses the steps builders may take to preserve and extend approvals for desirable housing products until the market rebounds.

Continue reading "Legal Strategies for Coping With Current Market Conditions" »

Posted by Henry T. Chou, Esq. at 05:22 PM | Permalink | Comments (0) | TrackBacks (0)