This is a summary of a complex law. You should consult an attorney for its particular application to your circumstances.
The New Jersey Economic Stimulus Act of 2009, which the Legislature passed last week and which is awaiting the Governor’s signature into law, provides four major economic stimuli to the development community – (1) a
The following is a speech delivered this morning by Sen. Raymond J. Lesniak, sponsor of the Economic Stimulus Act of 2009, to the NJ Business & Industry Association:
"I've been calling my economic stimulus legislation, which now awaits Governor Corzine's signature, “The most powerful economic growth tool on the planet.” Some have asked, "On the
In September 2007 – one month before the Dow hit its all-time high – over a dozen trade associations representing business, real estate and labor met to address “twin crises” affecting New Jersey. One, a short term “demand” crisis: the outmigration of jobs and residents to other states. The other, a longer term “supply” crisis:
The New Jersey Economic Stimulus Act of 2009, which cleared the Assembly Appropriations Committee on Thursday, will have dramatic implications for real estate and economic development in the state, said Ted Zangari, a real estate attorney at law firm Sills Cummis & Gross, P.C., in Newark. To read the complete story, please click here
A discussion paper on potential changes to lease accounting was released in March by the U.S. Financial Accounting Standards Board and the International Accounting Standards Board. According to the discussion draft all operating leases for real estate and equipment will have to be capitalized on corporate balance sheets and rent expenses will be dramatically altered.
The recent economic tsunami has already devastated the commercial real estate sector. But another wave of bad news is about to hit owners of commercial real estate. The economic downturn has drastically reduced state tax revenues, and state officials are responding by significantly cutting state aid to municipalities and school districts. Why is this bad
State Senator Raymond Lesniak's statement opening a State Senate hearing to be held later this month on reforming the policies of the Council On Affordable Housing (COAH).
I come here today not to praise COAH, but to bury it. In my 31 years of working with government's bureaucracy, I have never experienced an agency that
Over 40% of New Jersey’s municipalities recently filed Housing Elements and Fair Share Plans with COAH meeting the December 31, 2008 deadline. A complete list of municipalities is set forth on COAH’s website
Under COAH’s Scarce Resource Order, municipalities within the Highlands generally have until December 8, 2009 to submit Housing Elements and Fair Share
Blue Ribbon Panel to Spur Economic Development
TRENTON, N.J. – Governor Jon S. Corzine today announced the formation of a blue ribbon advisory panel known as the New Jersey Real Estate Advisory Board. The panel will be comprised of economic development leaders throughout the State, representing a cross-section of New Jersey’s major industry sectors.
“New
Appellate Division Affirms Trial Court’s “Novel” and “Creative” Mount Laurel Decision
On August 29, 2008, the Appellate Division affirmed the award of a builder’s remedy for 840 residential units on a parcel located in the Boroughs of East Rutherford and Carlstadt and within New Jersey Meadowlands District. This is the first decision to award a