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.
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…
Source: News From The Senate Democrats
TRENTON – In an effort to improve economic growth and development in distressed communities and neighborhoods, the Senate Community and Urban Affairs Committee passed legislation today sponsored by Senator Troy Singleton, which would require a cost-benefit analysis for any long-term tax exemptions. The analysis would provide information on the net impact on local revenue if tax breaks were granted for new development projects.
“These tax abatements are intended to provide incentives for new projects that will create jobs and generate economic opportunities in our communities, and the cost-benefit analysis will show the long-term impact of the potential abatements,” said Senator Singleton (D-Burlington), Chair of the Senate Community and Urban Affairs Committee. “There should be an immediate or long-term financial gain for the municipality and its residents.”
The bill, S2546, would require the Department of Community Affairs (DCA) to create a database of any long-term tax exemptions. Additionally, the bill would also require that five-year tax exemption and abatement agreements be filed with certain county officials.…
Sills Cummis & Gross is pleased to announce that Ted Zangari, Chair of the Firm’s Real Estate Department, has been appointed to another term as Mixed-Use (MXD) Counsel to the New Jersey Builders Association (NJBA). He has served in this capacity for eight years and was among the founders of the MXD division of NJBA nearly a decade ago.…
NJEDA Board Approves Brownfields Loan Program
Contact: New Jersey Economic Development Authority
TRENTON, N.J. (November 13, 2020) – The New Jersey Economic Development Authority (NJEDA) Board of Directors today approved the creation of the Brownfields Loan Program. This program will make low-interest loans of up to $5 million available to brownfield redevelopment projects for all aspects of brownfield revitalization, including assessment, investigation, and demolition. It will be one of the only funding sources available to cover pre-construction planning, demolition, asbestos, PCB removal, and lead-based paint remediation. More information is available at https://www.njeda.com/brownfields.…
Good things often come in small packages, and one of those may be a simple solution to New Jersey’s well-documented shortage of affordable housing: tiny homes. A tiny home is a single family home with a floor area of 400 square feet or less, which requires creative use of space and multipurpose features. Some are built on a foundation and others are chassis mounted mobile homes. Many jurisdictions, notably California, are beginning to use tiny homes as a means of providing inexpensive housing for low and moderate income and homeless individuals.
Continue Reading Tiny Homes – A Creative Solution for Affordable Housing and Homelessness
Curbside pick-up lanes and “to-go” parking spaces—already trending in shopping centers before the pandemic—have become essential features of retail stores in the wake of COVID-19 and are likely to become permanent fixtures in shopping centers. Likewise, drive-throughs and walk-up or vestibule kiosks will no longer be limited to banks and pharmacies, as retailers of every type seek to adapt to the new public health normal and avoid risks and exposures to employees and customers alike. How does this sudden shift in shopping center design and layout square with existing zoning laws and municipal codes around the Garden State?
Continue Reading Re-Imagining the Shopping Center Post-COVID: Zoning Changes Needed to Accommodate Store Features No Longer Deemed Convenience Amenities
Last week Governor Murphy approved legislation, Assembly bill 4495, which contained a number of technical tax changes, including the restoration of the exemption from Gross Income Tax (“GIT”) for the sale of Grow New Jersey tax credits by pass-through entities.
Since, pass-through businesses do not pay corporation business tax, these businesses must sell their Grow
As seen on: ROI-NJ
In this ROI-NJ interview, Sills Cummis’ Ted Zangari and Jaime Reichardt share their insights on the recently enacted federal Opportunity Zone Program.
Ted Zangari, chair of the Redevelopment Law Practice Group at Sills Cummis & Gross P.C. in Newark, is one of the most prominent public incentives and real estate attorneys…
As seen on: ROI-NJ.com
Beginning with Gov. Jon Corzine and expanded under Gov. Chris Christie, New Jersey’s corporate tax incentives have been criticized by many progressive and conservative organizations as corporate welfare costing the state billions of tax revenues….