Focused on Land Use and Redevelopment Law in New Jersey
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
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A newly formed advocacy group, BYOB New Jersey,represents a group of small business owners across the Garden State who have organized to fix the broken liquor license law in New Jersey. Local small restaurants are magnets for economic development, and BYOB New Jersey is fighting to allow neighborhood restaurants the opportunity to have local…
On Thursday August 9, 2018, the New Jersey Appellate Division held that Prepayment Agreements requiring redevelopers to prepay a portion of the annual service charge in advance of the PILOT commencing when seeking a Long Term Tax Exemption are ultra vires and unenforceable. But perhaps more importantly, the Appellate Division held that municipalities are authorized…
As seen on: RE-NJ.com
With the Grow New Jersey program set to expire in less than a year, the prospect of losing the incentive is already weighing heavily on the state’s commercial real estate market.
The tax credit program has been vital to everything from attracting manufacturing firms to ambitious redevelopment projects at large vacant…
Wednesday (August 1), New Jersey Attorney General Gurbir Grewal and Lt. Governor Sheila Oliver held a press conferences in Newark and Atlantic City announcing six new lawsuits filed by the State of New Jersey seeking Natural Resource Damages and cost recovery for sites in Newark, Woodbridge, Atlantic City and Warren County. The suits are the beginning of an expected program of aggressive enforcement for contaminated sites.
Continue Reading New Jersey Announces Six New NRD/Cost Recovery Suits
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…
On July 27, Sills Cummis' Cecilia I. Lassiter spoke at Tax Abatements: Friend or Foe?, a half-day workshop sponsored by the American Planning Association – New Jersey Chapter and the New Jersey Builders Association.
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….
Bill Allows Issuance of Additional Alcoholic Beverage Licenses within Boundaries of Formally Owned or Operated Military Installations
Source: News From The Assembly Democrats
Legislation sponsored by Assembly Democrats Eric Houghtaling, Joann Downey and Joseph Egan to issue additional alcoholic beverage licenses to a project area in three municipalities and at which a federally owned or operated military installation is closed and transferred to a government entity for the purpose of conversion, redevelopment, or revitalization advanced Monday in the Assembly.
Under the current law, a municipality may issue one plenary retail consumption license, for bars and restaurants, for each 3,000 of its population. This bill provides that an increase in population resulting from residential development in a formerly federally owned or operated military installation would not be included in the calculation issued to new licenses.Continue Reading Bill Expanding Issuance of Alcoholic Beverage Licenses Advances
As seen on: ROI-NJ.com
Gov. Phil Murphy’s decision to reactivate Urban Enterprise Zones for five years in five communities across the state was met with applause from municipal and association leaders.
Murphy signed legislation Wednesday to reinstate UEZs in Bridgeton, Camden, Newark, Plainfield and Trenton until Dec. 31, 2023.
