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(With Lt. Gov. Guadagno at today's bill signing ceremony are, from left, Ted Zangari, Sills Cummis & Gross P.C.; Bob Lieb, Mountain Development; George Sowa, Brandywine Realty Trust and 2011 NAIOP NJ President; and Anthony Pizzutillo, Smith Pizzutillo LLC)

 

Acting Governor Kim Guadagno earlier today signed into law a bill that revives and extends a moratorium on the imposition of fees on non-residential construction projects until July 1, 2013. The statewide 2.5% non-residential development fees had been charged to office, commercial and industrial real estate developers to help municipalities meet affordable housing obligations. An earlier moratorium on the non-residential fee requirement expired on July 1, 2010, and the commercial development community has been living with an uncertain financial obligation on their construction pro formas ever since.

Under the moratorium, a commercial project which has or receives preliminary or final site plan approval prior to July 1, 2013 will be exempt from the 2.5% fee provided building permits are obtained for the project by December 31, 2015. The moratorium is effective retroactively to the end of the last moratorium (July 1, 2010), thereby allowing for the reimbursement of any fees that may have been paid by a developer to a municipality in the interim (unless the fees have already been spent by the municipality on an affordable housing project).

 

Legislation was introduced this week to make significant changes to the Urban Transit Hub Tax Credit program. Most notably, the legislation (S-2957 and A-4161): (i) permits businesses to carry-forward unused tax credits as an alternative to selling same to third parties at a discount, (ii) clarifies the application of this program to mixed-use projects containing both commercial and residential space, and (ii) increases the award for residential projects (or residential portions of mixed-use projects) from 20% to 35% of capital investment. These bills are headed to the full Senate and Assembly tomorrow.

Legislation to repeal the 2.5% non-residential development fee retroactive to July of 2010 was introduced yesterday. The bills are S-2974 (Lesniak/Sweeney) and A-4221 (Coutinho/Bucco/Burzichelli). There are only two sessions days (next Monday and Thursday) remaining before summer recess during which this legislation can be approved and sent to Governor Christie for consideration.

Commercial real estate professionals are encouraged to reach out to their State Senators and Assembly members today in support of these bills. For information on how to contact your legislators, click here.

 
Group Combines the Collective Voice of Businesses
Involved in the Construction of
Multi-family Rental, Redevelopment, Retail and Office Space Production 

 

Hamilton, NJ – The New Jersey Builders Association (NJBA) is pleased to announce the formation of New Jersey Mixed-Use Developers (MXD). Leaders in residential, commercial, redevelopment and mixed-use development have come together in response to the evolving land use patterns in New Jersey. MXD will unite the voice of businesses involved in the construction of multi-family housing, retail and office space – otherwise known as mixed-use production, in New Jersey. MXD, along with NJBA, will advocate for providing the wide array of diverse housing choices, as well as commercial mixed-use developments that will facilitate the availability of housing and workplaces for all New Jersey residents.

Continue Reading New Jersey Builders Association Announces the Formation of New Jersey Mixed-Use Developers

 State-Chamber-Economic-Summit 
NJ Chamber of Commerce President Tom Bracken (left) and Board Member Ted Zangari discuss business retention and recruitment with Tracye McDaniel, president and CEO of Choose New Jersey; Caren Franzini, CEO of the New Jersey Economic Development Authority, and Linda Kellner, acting executive director of the state’s Business Action Center.

(Courtesy of NJ Chamber of Commerce) The three women executives who are helping spearhead economic growth in New Jersey told a group of State Chamber of Commerce members on Friday that now is a perfect time for the Garden State’s economy to skyrocket – in terms of both business growth and reputation.

Continue Reading The Three Women Helping Spearhead Economic Growth Say “New Jersey Means Business”

Governor Christie today signed into law Assembly Bill No. 2853 which directs State and local agencies that issue permits to businesses related to economic development to streamline the process by which the permits are issued to such businesses and monitored for compliance.

The law requires State agencies to review the permits they currently issue to identify permits which: 1) can be administered through expedited processes, such as developing procedures for the electronic submission of permit applications; or 2) may be obsolete, are no longer necessary or cost more to administer than the benefits they provide, and thus should be eliminated so long as the public health, safety, or general welfare is not endangered.

Continue Reading Streamlined Permitting Process Becomes Law

Sills Cummis & Gross P.C. is pleased to announce that Andrew B. Robins joined the Firm and will be heading up the Environmental Law Practice Group. Mr. Robins brings his vast environmental law experience to the Firm where he will counsel clients in regulatory compliance, cost recovery litigation, redevelopment, brownfields, transaction negotiation and risk analysis.

“Andy’s practice fits perfectly with our multidisciplinary approach to brownfield and portfield development and the adaptive re-use of industrial properties,” said Ted Zangari, chair of the Firm’s Redevelopment Law Practice Group.

Continue Reading Sills Cummis & Gross Snags Top Environmental Attorney

Regional Plan Association (RPA) released today a report suggesting that Newark is well positioned to leverage sustainability for urban revitalization. The exceptional variety of built and open space environments in the "Brick City" creates opportunities for sustainability initiatives of almost every kind and scale: from retrofitting older building stock with new energy technologies to best practice storm water management in the parks, wetlands and watersheds. A highly diversified economy, with a changing but still well-positioned industrial base, creates unique opportunities for green manufacturing and 'eco-industry" where waste streams and input streams among industries are linked.

Please click here to read the report.

GlobeSt.com – This article discusses the third-annual Urban Developer’s Night hosted by the Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area. Ted Zangari, the featured speaker of the evening and a Member of Sills Cummis & Gross, stated, “New Jersey will truly be the first state in the nation to reach full build-out.” The article continues, “The answer, he adds, is redevelopment, particularly in New Jersey’s cities, and the challenge is to pave the way be creating a development-friendly but sensible regulatory climate.”