Recently passed legislation on Governor Murphy’s desk for enactment would require all new leases and lease renewals in New Jersey – both commercial and residential – to include specific disclosures regarding potential and past flooding. Similar disclosures would also be required to be added to the “Property Condition Disclosure Statement” for the sale of “any real property located in the State.” (A separate post on this law blog will summarize the bill’s impact on sale contracts.)Continue Reading Bill on Governor Murphy’s Desk Would Impose New Flood Disclosure Notice Requirement on All Commercial & Residential Leases and Sales of Property
Governor Signs Elections Transparency Act
Governor Murphy this week signed the Elections Transparency Act, expanding reporting requirements for recipients of political contributions – thus the name of the new law. But the Act does more than expand reporting requirements. It weakens pay-to-play restrictions and increases the amounts that individuals and corporations may contribute to candidates and political parties. The changes to the law contain both good news and bad news for public contractors and other corporate campaign contributors (and their counsel).Continue Reading Governor Signs Elections Transparency Act
Murphy Administration Releases Additional Details of Proposal to Modernize NJ Liquor Licensing Laws
Gov. Murphy held a roundtable discussion today with restaurant owners and other stakeholders to discuss details of his administration’s legislative proposal to increase the availability of Plenary Retail Consumption Licenses gradually over five years.Continue Reading Murphy Administration Releases Additional Details of Proposal to Modernize NJ Liquor Licensing Laws
Three Business Days to Perform or Else: New Law Allows Owners to Utilize Private Construction Inspectors When Agencies Fail to Act
Real estate owners and developers will finally have recourse when construction inspections are not timely performed. Governor Phil Murphy has just signed into law Senate Bill 3014/ Assembly Bill A573, which provides for expedited construction inspections under the Uniform Construction Code, N.J.S.A. 52:27D-124.
The new law provides rules for the timely inspection of construction projects and grants the Commissioner of the New Jersey Department of Community Affairs (“Commissioner”) new powers to compel compliance, order corrective action or issue penalties when an enforcing agency is unable or unwilling to meet its obligations.Continue Reading Three Business Days to Perform or Else: New Law Allows Owners to Utilize Private Construction Inspectors When Agencies Fail to Act
DEP to Move Forward Towards Releasing a New “Inland Flood Protection Rule”
DEP Commissioner announced that the Department is moving forward with proposing rules relating to inland flood areas. Earlier this year, DEP had prepared to issue new flood area rules on an “Emergency” basis. The rule concepts put forward by DEP would dramatically expand areas identified as Flood Hazard Areas, and further limit activities in those areas. After significant uproar from municipalities, counties, other state agencies and the development community, the “Emergency Rule” concept was pulled back.
Continue Reading DEP to Move Forward Towards Releasing a New “Inland Flood Protection Rule”
New Jersey Economic Development Authority Proposes Brownfields Redevelopment Incentive Program
On September 1, the New Jersey Economic Development Authority (EDA) announced its plan to institute a new financial incentive program called the “Brownfields Redevelopment Incentive (BRI) Program,” part of the New Jersey Economic Recovery Act, to spur brownfield redevelopment in New Jersey. The EDA requested public feedback based on information it provided to the public (EDA Information), so that it may tweak the program before the program is established. The EDA held information sessions on September 7 and 8, to present a summary of the program. The slides provided by the EDA at the BRI information sessions are linked here and provide a detailed summary of the program. Following are highlights of key aspects of the proposed program, as set forth in the EDA Information:
Continue Reading New Jersey Economic Development Authority Proposes Brownfields Redevelopment Incentive Program
BREAKING NEWS: Carried Interest Changes Dropped from Tax, Climate Bill
Late last night, Senator Charles Schumer (D-NY) announced that proposed changes to the tax treatment of carried interest, strongly opposed by the commercial real estate industry, would be removed from the Inflation Reduction Act. This is the latest in a string of unsuccessful efforts in Congress in the last decade or so to change the tax treatment of carried interest. The changes would have unfairly penalized projects that use financing from outside investors. Undertaking costly brownfield remediation and redevelopment requires substantial upfront risk and costs. Disincentivizing this risk-taking would have especially impacted the commercial real estate industry’s ability to reposition office and retail properties that have been impacted by remote work, e-commerce and the pandemic. The Senate is expected to start the voting process on the Inflation Reduction Act this weekend, with final passage of this significant legislation possible by the end of next week.
Update: DEP to Delay Publication of “Emergency Rule” on Flood Hazard and Stormwater Regulations
Sources in Trenton report that the Department of Environmental Protection (DEP) will announce on Monday a delay in publishing the “emergency rule” that was the subject of our June 3 Alert. After feedback from a number of impacted stakeholders, including municipalities, DEP is expected to announce a pause in the publication of the “emergency rule” to allow for more stakeholder input, issue FAQs and release a schedule of stakeholder meetings.
Continue Reading Update: DEP to Delay Publication of “Emergency Rule” on Flood Hazard and Stormwater Regulations
DEP to Adopt “Emergency Rule” Mid-June That Will Require Many Projects to Be Redesigned or Abandoned
Anyone with a pending or planned project that involves either an area near a non-tidal river or stream or a project that is subject to DEP’s stormwater rules will likely need to reassess the scope of the project if approvals are pending.
The “emergency rule” is the first salvo of the Department of Environmental Protection (DEP)’s Protection Against Climate Threat (PACT) regulatory initiative. DEP will be side-stepping the normal rule making requirements and adopting changes to rules covering Fluvial (river system) Flood Hazard Areas (FHAs) and Stormwater Rules.
Continue Reading DEP to Adopt “Emergency Rule” Mid-June That Will Require Many Projects to Be Redesigned or Abandoned
Top New Jersey Lawmakers in No Rush to Have State Regulate ‘Warehouse Sprawl’
As seen on: www.app.com
By: Daniel Munoz
Warehouses and distribution centers are popping up across New Jersey as consumers embrace online shopping, and the state’s top lawmakers seem to have little appetite for legislation to slow the trend.
Despite complaints about “warehouse sprawl” from some local communities and environmental groups, leading Democrats and Republicans told an industry group Wednesday that they’re in no rush to advance statewide regulations.