Governor Murphy today conditionally vetoed legislation that would have added yet another burden on commercial property owners. The bill, A-4750, would have required the owner of every commercial property in the state—presumably affecting retail, office and industrial space despite the bill’s reference to the creation of a “storefront” registry— to notify the state’s Business Action Center (“BAC”) whenever a commercial space “becomes available” and “no person or entity is presently scheduled to lease or purchase the property.” The property owner would have also been required to notify the BAC again when such space became re-occupied. Instead of an outright rejection of the bill, however, Governor Murphy suggested that the Legislature first allow for the BAC to study the issue that the legislation aimed to solve. In conditionally vetoing the legislation, Governor Murphy echoed the sentiments of my colleagues in this earlier blog post.Continue Reading Gov. Murphy Rejects Legislation Requiring Commercial Property Owners to Register “Vacant Space”
A new statute imposes sweeping new notice requirements affecting properties that are subject to flooding. All owners of land in New Jersey, including commercial and industrial property owners, who lease their sites or are considering a transfer of improved or unimproved land should consider whether the new notice requirements apply. A copy of the adopted statute can be found here.Continue Reading Landlords and Sellers of Property Beware: New Law Requires Disclosure of Flood Risks for Commercial, Industrial and Multi-Family Sites
Since its launch more than two years ago, the New Jersey Aspire tax credit incentive program (“NJ Aspire”) has not been the deal-closing fund that redevelopers have so desperately needed. Thus far, NJ Aspire, like the “ERG” program which preceded it, has been unable to close, or even substantially narrow, projected financing gaps on most potential redevelopment projects across the state’s urban centers.Continue Reading Summary of the Revised “NJ Aspire” Redevelopment Incentive Program
Governor Murphy today signed into law amendments to the Garden State Film and Digital Media Jobs Act, P.L. 2018, c. 56 (the “Program”). Below is a summary of the key changes to the Program:Continue Reading Gov. Murphy Signs Law Amending Incentives Program to Lure Film & Digital Media
DEP has adopted new Inland Flood and Stormwater rules effective upon publication in either the July 3, 2023 or July 17, 2023 New Jersey Register. We will post an update when the exact date is known. A courtesy copy of the rule adoption document can be found here.
As summarized in our June 3, 2022 post regarding the initial proposals, 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.
After extensive comments from the regulated community were received, the Department revised the various “grandfather” provisions from the initial proposal. The following categories of “activities” would be subject to the current rules:Continue Reading DEP Adopts New Inland Flood and Stormwater Rules That Will Require Many Projects to Be Redesigned or Abandoned
A bill on Governor Murphy’s desk for possible enactment into law would add yet another burden on commercial property owners. This time it’s an effort to create a public database of all vacant commercial space available in the state for lease or purchase. Legislators have touted this initiative (Senate Bill 3286/Assembly Bill 4750) as a tool to help New Jersey’s small businesses in “locating storefronts,” but what does it mean for commercial property owners?Continue Reading Vacant Storefront Registry Program – Would It Really Help?
Op-ed as seen on: ROI-NJ.com
By: George Jacobs and Ted Zangari
High on the list of antiquated regulations that are stifling competitiveness in New Jersey are those governing restaurant liquor licensing. So, kudos to Gov. Phil Murphy for being the first governor in modern state history to openly call for the overhaul of a system that for decades has prevented many restaurants from offering their customers the convenience of an adult beverage. The Murphy administration’s plan is to make restaurant liquor licenses less expensive and more readily available. Both are laudable goals, but the governor’s initiative has encountered resistance from an array of special interests, and legislators are now focusing more narrowly on the issue.Continue Reading Liquor License Issue Is 2-Part Problem: Here’s 2-Part Solution
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 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
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