“The journey from cities to car-oriented suburbs was once a given, a rite of passage that marked the transition for some Americans, especially affluent ones, from youth to adulthood. But no longer. Americans increasingly prefer to live in walkable communities in either cities or suburban towns, with jobs, retail, parks and other amenities just a stone’s throw from home.”
Supermarket Liquor License Bill Sent to Committee
The Record
“A bill to make it easier for supermarket chains in New Jersey to sell alcoholic beverages has been sent to the Assembly Regulatory Oversight Committee, and its sponsor is hopeful the committee will act on it soon.
NJ City Sues over Idle Mixed-Use Redevelopment
Law360
“The city of Newark, New Jersey, has accused a would-be redeveloper of running afoul of their contract by failing to move forward with a commercial and residential project that was proposed for properties once under the city’s ownership.”
AFFORDABLE HOUSING – “Lesniak proposes $600M in tax credits to encourage affordable housing”
Politico
“A bill that would allocate up to $600 million in tax credits to encourage developers to build affordable housing has been pre-filed for the new legislative session. According to the proposal, (S894) the 30 percent tax credit on total project costs would be restricted to development in neighborhoods where the median family income does not exceed 80 percent of the statewide or metropolitan median family income.”
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, and one that would allow certain supermarkets to hold more than two liquor licenses — say they plan to continue the fight this year, and they are confident about their chances.
What Will It Take to Save New Jersey’s Suburban Market?
Ted Zangari shares insights at Bisnow’s conference “Revitalizing New Jersey – Transforming Existing Assets Into Future Communities”
BISNOW | Amanda Marsh, Deputy Editor
As Chris Christie prepped to take the national spotlight at last week’s Republican presidential debate, NJ Economic Development Authority president Timothy Lizura sang his praises while keynoting Bisnow’s Revitalizing New Jersey event in Holmdel Wednesday. Will Rand Paul roll his eyes at these staggering numbers?
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 are not sure if the tax deferral will be around in a year. He went on to say, “…it doesn’t hurt that they’re not selling at a low point in the market – they’re selling at a relative high point in the market.”
Municipal Declaratory Judgement Actions Present an Excellent Opportunity for Re-Zoning But Fast Action Is Required
If you own a vacant or under-tenanted office or industrial building or vacant land zoned for office, industrial or large lot residential use, the New Jersey Supreme Court’s March 10, 2015 decision in In the Matter of the Adoption of N.J.A.C. 5:96 and 5:97 by the New Jersey Council on Affordable Housing, 221 N.J. 1 (2015) provides you with an excellent opportunity to obtain high density residential or mixed use zoning for your property.
However, you must act now.
NJEDA Board Chair Pens Op-Ed Explaining Numbers Behind Incentive Awards to Businesses and Developers
The numbers behind New Jersey Economic Development Authority’s award of tax credits
The Star-Ledger
In following news about New Jersey’s incentive programs over the last year, it struck me that readers might incorrectly conclude that the state has paid out $5 billion in actual tax credits under the legislatively-created incentive programs that the New Jersey Economic Development Authority is charged with administering. This is not the case and as chair of the EDA’s board, I thought it might be useful to clarify that there is an important distinction between the EDA’s approval of an application and the actual realization of an award of tax credits.
Municipal Affordable Housing Obligations Are Now Determined by the Courts
In its unanimous decision on March 10, 2015, in In Re Adoption of N.J.A.C. 5:96 & 5:97 by N.J. Council on Affordable Housing (M-392-14 (067126), the New Jersey Supreme Court held that the courts, and not the Council on Affordable Housing (“COAH”), will determine if municipalities have met their constitutional affordable housing obligations under the Mount Laurel doctrine. However, builders’ remedy lawsuits will not be immediately available to property owners in municipalities that either have substantive certification under COAH’s invalidated Third Round Rules or were participating in the COAH process to obtain it. Further, the Court created a process by which these municipalities can obtain the equivalent of substantive certification from the courts and thus immunity from builders’ remedy lawsuits.
Continue Reading Municipal Affordable Housing Obligations Are Now Determined by the Courts