The deadline for municipalities to pass a binding resolution determining their present and prospective fair share obligation under the fourth round of affordable housing was January 31. Linked here is a chart showing both the Department of Community Affairs (“DCA”)
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Breaking News: Governor Murphy Signs “NJ Aspire 3.0” into Law
Governor Murphy today signed Senate Bill 1323/Assembly Bill 2076, the long-awaited legislation correcting many of the impediments holding-back the use of “NJ Aspire” – a potentially powerful financial incentive that was designed to address project financing gaps through the awarding…
Breaking News: Court Denies Municipalities’ Request for a Stay of Fourth Round of Affordable Housing
Earlier today, the Superior Court judge hearing a lawsuit on behalf of now 26 municipalities challenging the fourth-round rules of affordable housing obligations issued an Order denying their requests for injunctive relief pending the Court’s final judgment of the litigation. The…
Update on NJ Aspire 3.0
In our previous summary of the Aspire legislation approved by both houses of the State Legislature two weeks ago and now awaiting Governor Murphy’s enactment into law (click here to view the summary of Aspire 3.0), we noted…
Breaking News: State Legislature Just Approved NJ Aspire 3.0
Redevelopers have always struggled to make the numbers work on their proposed projects due to the unique added expenses of redevelopment not typically encountered on “greenfield” new construction projects—costs of land assemblage, environmental remediation, and structured parking, to name a…
NJEDA Releases Opt-In Documents for Municipalities to Participate in Garden State C-PACE Program
Just about two months after the New Jersey Economic Development Authority (“NJEDA”) approved the Garden State Commercial Property Assessed Clean Energy program, or “C-PACE”, it has released form documents for municipalities wanting to opt into the Program. The documents include…
Murphy Administration Releases Preliminary Draft of New State Plan (The First Since 2001)
For the first time in nearly a quarter-century, the NJ State Planning Commission is making a concerted effort to update the State Development and Redevelopment Plan. Today, the Commission released a preliminary draft of a new plan and set an…
Breaking News: Court Potentially Stays Fourth Round of Affordable Housing Obligations
A Superior Court judge yesterday granted an order to show cause in connection with a lawsuit filed by 21 municipalities challenging the fourth-round rules of affordable housing obligations. (The Court’s Order can be found here.) As a result, the State and…
Fourth Round Affordable Housing Obligation Calculations Have Been Released; What Do They Mean for Developers and What Comes Next?
By now, most residential and mixed-use developers doing business in New Jersey have read that the Department of Community Affairs (“DCA”) late last Friday released its report calculating regional and municipal obligations for the fourth round of affordable housing units…
Plan Review Bill Becomes Law
As seen on: The Weekender Brief (NAIOP NJ)
Acting Governor Nicholas P. Scutari yesterday signed into law the New Jersey Design Professional Self-Certification Act (S3402/A4350). Championed by NAIOP NJ, the new law will help streamline approvals and advance development and redevelopment…