Pending Legislation Abolishes Council on Affordable Housing and Nonresidential Development fees

May 7th, 2010 | Posted by: Christopher DeGrezia 0| comments:

COAHIf adopted, a bill before the New Jersey Senate (S-1) will abolish COAH and reform the Fair Housing Act.  The bill stands at second reading and can be voted upon at the next voting session in May 2010.  If it is not amended, the bill will change the entire landscape of how affordable housing requirements are calculated and applied.  With regard to nonresidential development, it will essentially eliminate affordable housing requirements.  Here is the story:      » Read the rest of this entry «

Effort to Stimulate Economy Through New Jersey Economic Stimulus Act of 2009 Impacts Development Community

July 29th, 2009 | Posted by: Christopher DeGrezia 0| comments:

2009-02-17-transfer-1174By Cynthia DeLisi, Esq.   

Gov. Jon S. Corzine signed into law the New Jersey Economic Stimulus Act of 2009 on July 27.   The Act is intended to spur economic growth in the state “through the use of tax increment financing, tax credits, development fee suspensions, and dedicated economic development revenues, along with a more efficient redevelopment process.”  Some provisions in the Act are significant for the development community:

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