Legislature Passes Economic Stimulus Bill and Eliminates 2.5% Non-Residential Development Fee

Posted by on Jun 26, 2009 in COAH and Affordable Housing Issues, Distressed Housing Market, Redevelopment

By: Henry T. Chou, Esq.
In response to the State’s recession woes, the Legislature has passed an omnibus economic stimulus bill (A-4048/S-2299) aimed at reinvigorating the real estate development industry through innovative tax incentives and fee moratoriums, among other measures.

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Supreme Court Ends Municipal Practice of Exacting Open Space From Homebuilders

Posted by on Jun 25, 2009 in Open Space/Recreation

By: Henry T. Chou, Esq.
In a unanimous decision styled New Jersey Shore Builders Association v. Jackson Township, the Supreme Court has affirmed the Appellate Division’s ruling that municipalities cannot require builders to set aside open space and recreation facilities or make monetary “in lieu” payments as a condition of receiving development approval under the Municipal Land Use Law (MLUL).

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Legislators Introduce New Eminent Domain Bill

Posted by on Jun 16, 2009 in Eminent Domain

By: Henry T. Chou, Esq.
After 18 months of negotiations, Senator Ronald Rice (D-Essex) and Assemblyman John Burzichelli (D-Gloucester) have introduced a compromise bill that proposes to maintain the government’s ability to condemn property for redevelopment, while attempting to reign in past practices that have been deemed abusive.

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