The Superior Court of New Jersey, Appellate Division, recently affirmed an unpublished decision of the Law Division that reached two conclusions favorable to developers. In that prerogative writ action, a resident asserted numerous challenges to the designation of thirteen properties as an area in need of redevelopment, pursuant to the Local Redevelopment and Housing Law.Continue Reading Appellate Division Affirms Pro-Developer Decision Regarding Redevelopment Area Designation
Nowhere to Grow in New Jersey?
Why Redevelopment Is the State’s Best Viable Long-term Growth Vehicle
As seen on: Blog•RE (Rutgers Center for Real Estate Blog)
Ted Zangari, a Newark-based real estate and redevelopment attorney, is the head of the Smart Growth Coalition of New Jersey. The committee met frequently this summer and in the fall to develop a set of
Industry News – Tax Reform Update
After years of tax policy and planning discussions, and following debates within committee during the last few months, the U.S. House of Representatives’ Ways and Means Committee yesterday released the first draft of the “Tax Cuts & Jobs Act” or H.R. 1 of the 115th Congress. The tax proposals have implications for those in the real estate industry. Here are some brief highlights: Continue Reading Industry News – Tax Reform Update
An Open Letter to Blue State GOP House Members
A SALTY Compromise to Consider for Tax Reform
Dear Members of Congress:
As representatives of high-tax states, you are acutely aware of the importance of the state and local tax deduction, otherwise known as the SALT deduction. Unfortunately, your colleagues on the House Ways and Means Committee have proposed the elimination and most recently, capping, of the SALT deduction despite the valiant efforts of many of you to save it or keep it in its current form. In fact, some committee members of low-tax states have openly suggested that the SALT deduction be eliminated to punish states that are operated inefficiently or expensively, without any appreciation of or regard for the extraordinary demands imposed on dense, urbanized states, particularly “blue” states. Likewise, Treasury Secretary Steve Mnuchin’s rationale for eliminating the SALT deduction is that the federal tax code needs to “stop subsidizing states.”Continue Reading An Open Letter to Blue State GOP House Members
Hopes Are High for Legislative Action on Restaurant Liquor License Bill
As seen on: The Town Crier
(New Jersey State League of Municipalities' Legislative Blog)
Our State’s liquor licensing laws date back to the ratification of the Twenty-first Amendment in the 1930’s. The world is a different place. And those laws have tended to stifle competition and to hamstring local economic development options.
New Jersey municipalities
NJEDA Spotlights Sills Cummis-Led Redevelopment Project Involving First-Ever Loan under Real Estate Impact Fund, Announces Expansion of Fund to Foster Revitalization of Underutilized Sites
Applications Will Be Accepted Beginning January 3, 2017
TRENTON, N.J. (December 13, 2016) – To stimulate the redevelopment of underutilized properties and catalyze future development opportunities in strategic urban areas, the Board of the New Jersey Economic Development Authority (EDA) today approved an expansion of its Real Estate Impact Fund. Originally created as a pilot program to provide early capital to private developers, the Fund will now offer a public component, allowing Urban Aid municipalities and eligible local redevelopment agencies or county improvement authorities to also qualify for low-interest financing. Continue Reading NJEDA Spotlights Sills Cummis-Led Redevelopment Project Involving First-Ever Loan under Real Estate Impact Fund, Announces Expansion of Fund to Foster Revitalization of Underutilized Sites
HUD Releases Area Median Income Limits (AMIs) for FY 2016
HUD recently released Area Median Income Limits for FY 2016. AMIs are used to set eligibility thresholds for a number of federal subsidy programs, including the Low Income Housing Tax Credit and the Section 8 program. Click here to view the income limits for New Jersey.
NEW ARTICLE: New Jersey’s Version of Tax Increment Financing – Known As “ERGG” – Successfully Closing Construction Financing Gaps on Projects across the State
AIM – Apartment Industry Magazine | By Ted Zangari and Cecilia I. Lassiter
New Jersey’s residential “ERGG” program enacted in 2013 has been so successful that some “buckets” of the allocated $600 million in tax credits are empty and others are quickly depleting. However, a prominent legislator recently introduced a bill to re-fund and recalibrate
Battling N.J. Liquor Laws
The Record | 1/17/2016
Last year, nearly a dozen bills were introduced by state legislators to address some aspect of New Jersey’s liquor laws. Most of those efforts died when the legislative session ended Tuesday. But supporters of two key proposals — one that would make it easier for small restaurants to obtain liquor licenses,
Real Estate Investors Wary of Tax Changes Say Limiting Section 1031 Would Slow Down Sector
Ted Zangari, chair of the real estate department at the Newark-based law firm Sills Cummis & Gross. – (PHOTO BY AARON HOUSTON)
NJBIZ | July 13, 2015
This article discusses the possibility of changes in deferral rules regarding 1031 exchanges. Ted Zangari stated that clients and their tax advisors want to unload now as they