LANDMARK LEGISLATION WILL ENABLE STATE TO CREATE AN EVEN MORE BUSINESS FRIENDLY CLIMATE

TRENTON, N.J. (November 15, 2013) — The Board of the New Jersey Economic Development Authority (EDA) took action today to authorize the Authority to begin accepting applications for incentive programs provided under the New Jersey Economic Opportunity Act, signed into law by Governor Christie on September 18, 2013. As a result, applications for the Economic Redevelopment and Growth (ERG) and the Grow NJ Assistance (Grow NJ) programs will be available from the EDA beginning November 18.

“The ERG and Grow NJ programs will create a positive impact in terms of New Jersey’s ability to compete regionally, nationally and in the global economy,” said Michele Brown, CEO, EDA. “These incentive programs provide additional tools and will give businesses more opportunities in New Jersey.”

The ERG and Grow NJ programs accepted by the EDA Board are intended to help improve the state’s economy by stimulating new economic development and job creation including, but not limited to, certain smart growth areas and distressed municipalities. The Act merged the state’s five largest economic development incentive programs into two, while expanding the geographic boundaries and lowering eligibility thresholds for the Economic Redevelopment and Growth (ERG) and Grow NJ Assistance (Grow NJ) programs. Under the approved rules, the Grow NJ program is now the state’s main job incentive program and the ERG program is the key developer incentive program. The new rules implementing the Economic Opportunity Act also build on Governor Christie’s commitments to helping small and mid-size businesses and reclaiming New Jersey’s cities. The revised Grow NJ program lowers capital investment and employment eligibility requirements to enable more smaller businesses to qualify for incentives. The revised programs also place extra emphasis on spurring development and private sector job growth in “Garden State Growth Zones,” identified in the legislation as the four lowest median family income cities in the state: Camden, Trenton, Passaic City, and Paterson. Projects in these cities will have significantly lower eligibility thresholds and higher incentive levels.

For a summary of the GrowNJ business incentive program, click here.

This morning, the NJ Supreme Court released a decision holding with the lower court's finding that Growth Share should be removed from COAH's Third Round Rules.

Sills Cummis & Gross partner Kevin Moore argued before the Supreme Court on behalf of NAIOP NJ in challenging the Third-Round regulations that created a growth share affordable housing obligation stemming from non-residential development. Mr. Moore will provide a briefing on the details of the Court's decision and what it means to commercial developers at the September 30 Chapter Meeting of NAIOP NJ.

Click here to register for the event.

Analysis of In re Adoption of N.J.A.C. 5:96 & 5:97 by N.J Council on Affordable Housing (A-90 to 94-10) (067126)

TRENTON — The New Jersey Chamber of Commerce announced that it will be bestowing Business Advocates of the Year honors to a tireless Newark attorney who is fighting for smart growth, and to a groundbreaking member of Gov. Chris Christie's cabinet who is making dramatic changes to make his agency more efficient. The Chamber also announced that four state legislators have won the Chamber's biannual Legislative Awards. All six award winners are being honored by the State Chamber for their work advancing New Jersey as a more business friendly state and as a great place to live and work. They will be recognized at the State Chamber's biannual Legislative Awards Reception on Oct. 9 at the Wyndham Hotel in Mount Laurel beginning at 6 p.m.

The two winners of the State Chamber's Business Advocacy Award are:

• Ted Zangari, Busness Attorney, Sills Cummis & Gross
• Bob Martin, Commissioner, state Department of Environmental Protection

The four winners of the N.J. Chamber's Legislative Awards are:

• Senator Fred H. Madden, Jr. (D-4 / Camden and Gloucester Counties)
• Senator Anthony R. Bucco (R-25 / Morris and Somerset Counties)
• Assemblyman John J. Burzichelli (D-3 / Cumberland, Gloucester, and Salem Counties)
• Assemblyman David P. Rible (R-30 / Monmouth and Ocean Counties)

The State Chamber selected these lawmakers based on their voting records, bill sponsorships, committee votes and their overall history of supporting economic growth.

"The honorees were selected because each has taken substantive action to improve the state's economic climate and make sure New Jersey takes full advantage of its many assets," said Thomas A. Bracken, president and CEO of the New Jersey Chamber of Commerce. "New Jersey faces many challenges, and we are fortunate to have individuals such as these advocating on behalf of economic growth. Through their individual and bipartisan efforts in the areas of government reform, Superstorm Sandy recovery and tax incentives, our award winners are ensuring the Garden State's competitive future."

Continue Reading The New Jersey Chamber of Commerce Honors DEP Commissioner Bob Martin & Attorney Ted Zangari as “Business Advocates” for Outstanding Economic Growth Work

New Jersey Future is hosting its annual Redevelopment Forum at the Hyatt in New Brunswick on Friday, March 1. Learn from New Jersey’s experts in the field about the best practices and trends in redevelopment. Click here for details.

Ted Zangari of Sills Cummis & Gross will be among the participants on a panel that will discuss “Using Value-Capture Tools to Spur Redevelopment.”

Value-capture mechanisms are a type of public financing whereby increases in the private land values generated by public investments are “captured” to repay the cost of the public investment. The most commonly cited example is tax increment financing (TIF). New Jersey has put in place its own value-capture tools, including the Economic Redevelopment and Growth Grant program and Redevelopment Area Bonds, that have been used to advance redevelopment projects throughout the state. During this panel session, the audience will learn more about value-capture mechanisms and how other states have used them creatively to foster redevelopment and investments in transit. Attendees will also learn more about the New Jersey programs, including where they work well and where they face challenges. Here is complete list panelists:

• Stephen A. Santola Esq., Executive Vice President/General Counsel, Woodmont Properties (Moderator)
• Nat Bottigheimer, President, NB Consult; former Assistant General Manager, Planning, Real Estate and Parking, Washington Metropolitan Area Transit Authority
• Timothy J. Lizura, President and Chief Operating officer, New Jersey Economic Development Authority
• Ted Zangari Esq., Member, Sills Cummis & Gross PC and Chair of the firm’s Redevelopment Law Practice Group

The Permit Extension Act has been signed into law by Governor Christie. The law, A1338/S743 (Greenwald, DeCroce, Green/Sarlo, Oroho, Stack), extends the expiration date of state and local government approvals until December 31, 2014. The law includes a new definition for “extension area” to clarify the underlying legislative intent of the 2008 Permit Extension Act. The new definition includes many portions of the Highlands and Pinelands. Under the new law, approvals in those areas also remain valid through the extension period.

It all started with the Permit Extension Act of 2008, the maiden legislative initiative of the Smart Growth Economic Development Coalition I had formed months earlier. This law saved many projects (and construction lenders) from financial ruin. But many of us were concerned that an economic recovery would not take root by the end of the extension period (2010).

Unfortunately, our concerns were confirmed; in 2010, our Coalition obtained an extension of the Permit Extension Act through 2012. This law saved many more projects (and construction lenders) from financial ruin. But many of us were once again concerned that an economic recovery would not take root by the end of the extension period.

Earlier this year, our Coalition sought yet another extension of the Permit Extension Act through December 31, 2014. We also took this opportunity to clarify the underlying legislative intent of the original 2008 Permit Extension Act that approvals in designated areas of the Highlands and Pinelands should remain valid through the extension period. This past Monday the General Assembly overwhelmingly approved the bill, and I am happy to report that today the Senate passed the bill by a vote of 35-1. The bill is now awaiting consideration by Gov. Christie.

I hope this will be the last permit extension needed by the development community…

Lieutenant Governor Kim Guadagno recently presented Monmouth University Kislak Real Estate Institute’s first-ever “Service to the Industry” award to Ted Zangari (left), Chair of the Redevelopment Law & Public Policy practice groups at the Sills Cummis & Gross law firm, at the Institute’s 19th annual Leadership Excellence Award Dinner. Over 500 real estate executives and professionals attended the event. Also pictured is Peter Reinhart, Director of the Institute.

Monmouth University Kislak Real Estate Institute hosted its 19th annual Leadership Excellence Award Dinner on Thursday, May 31 in historic Wilson Hall. Over 500 real estate executives and professionals attended the event.

Joseph S. Taylor, president & CEO of Matrix Development Group, received the prestigious Leadership Excellence Award and Ted Zangari, Esq., chair of the Redevelopment Law & Public Policy Practice Groups at the Sills Cummis & Gross law firm, received the Institute’s first Service to the Industry Award.

Director of the Kislak Real Estate Institute stated: “We are so pleased to add Joe Taylor and Matrix Development Group to our distinguished list of Leadership Excellence Award recipients. Joe has been a leader of one of New Jersey’s prominent real estate developers for decades and is truly worthy of this honor. Ted Zangari has done so much to benefit the real estate industry through his leadership in founding and leading the Smart Growth Development Coalition over the past five years. The Coalition has helped not only the real estate industry but the overall economic well-being of the state of New Jersey through its promotion of sensible balanced legislation. Monmouth University and the Kislak Real Estate Institute are proud to honor these fine leaders.”

The DEP has now adopted a rule that offers applicants the opportunity to avoid absurd results due to conflicting rules and overly restrictive requirements. Sound projects that are have stymied by current rules now have a path that can lead to approvals. The long-awaited waiver rule can be accessed by clicking here.

The rule allows for DEP to waive its own rules under the following circumstances:

• Formally declared Public Emergencies.
• Conflicting Rules.
• A Net Environmental Benefit would be achieved.
• An Undue Hardship is created by the rule(s).

Continue Reading DEP Adopts Long-Awaited Waiver Rule