By: Michael J. Lipari, Esq.
Today, Acting Governor Kim Guadagno signed a bill into law that extends a prior moratorium on the 2.5 percent non-residential development fee. This law (Legislative Bill S-2974) extends the moratorium for an additional two years, which should provide relief to commercial real estate developers.
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.
By Michael J. Lipari, Esq.
As the economic recession continues, the New Jersey Legislature took another proactive and necessary measure to aid builders and developers struggling to save approvals for jobs that are not currently able to proceed. On January 11, 2010, both houses passed legislative bill A-4347 that extends certain permits and approvals that were subject to the Permit Extension Act of 2008 (“PEA”) through 2012.
Continue reading "Legislature Adopts Bill to extend the “Permit Extension Act of 2008”" »
By: Henry T. Chou, Esq.
For the past two years, a coalition of developers and business groups called the Smart Growth Economic Development Coalition has sought to effect significant changes in land use use and environmental regulatory laws aimed at keeping businesses in New Jersey and attacting new business. It now hopes to push through some of its legislation in the lame duck Legislative session after the gubernatorial election in November.
Continue reading "Development Coalition Seeks Overhaul of Land Use and Environmental Procedures" »
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.
Published in November 2008 Edition of New Jersey Builders Association Dimensions Newsletter
By Thomas F. Carroll, III, Esq.
In a notice appearing in the October 6, 2008 edition of the New Jersey Register, the Highlands Council has unilaterally declared that no approvals in the Highlands Region are subject to the Permit Extension Act. This rather remarkable edict applies, in the opinion of the Highlands Council, to both the Highlands Preservation Area and the Highlands Planning Area.
By: Thomas F. Carroll, III, Esq.
The New Jersey Legislature has had a busy year passing laws of interest to the real estate development industries. The first such bill is the “Roberts bill” (also known as A-500), now signed into law by Governor Jon Corzine. The Roberts bill makes a number of important changes affecting lower income housing obligations as applied to residential and nonresidential developers and builders.
The second significant bill is the Permit Extension Act. That bill has been passed by both houses of the Legislature but, as of this writing, has not yet been signed into law by Governor Corzine. Assuming it is signed into law as expected, the Permit Extension Act will extend many permits and approvals for the period of time specified in the legislation. A summary of these important legislative developments follows.