Disclosures affect all properties including commercial and industrial.
Specifics of the scope of the disclosures left unresolved.
On December 21, 2023, the Department of Community Affairs (DCA) published forms applying to:
…
Governor Murphy today conditionally vetoed legislation that would have added yet another burden on commercial property owners. The bill, A-4750, would have required the owner of every commercial property in the state—presumably affecting retail, office and industrial space despite the bill’s reference to the creation of a “storefront” registry— to notify the state’s Business Action…
A new statute imposes sweeping new notice requirements affecting properties that are subject to flooding. All owners of land in New Jersey, including commercial and industrial property owners, who lease their sites or are considering a transfer of improved or unimproved land should consider whether the new notice requirements apply. A copy of the adopted statute…
Since its launch more than two years ago, the New Jersey Aspire tax credit incentive program (“NJ Aspire”) has not been the deal-closing fund that redevelopers have so desperately needed. Thus far, NJ Aspire, like the “ERG” program which preceded it, has been unable to close, or even substantially narrow, projected financing gaps on most potential redevelopment…
Governor Murphy today signed into law amendments to the Garden State Film and Digital Media Jobs Act, P.L. 2018, c. 56 (the “Program”). Below is a summary of the key changes to the Program:…
DEP has adopted new Inland Flood and Stormwater rules effective upon publication in either the July 3, 2023 or July 17, 2023 New Jersey Register. We will post an update when the exact date is known. A courtesy copy of the rule adoption document can be found here.
As summarized in our June 3, 2022…
A bill on Governor Murphy’s desk for possible enactment into law would add yet another burden on commercial property owners. This time it’s an effort to create a public database of all vacant commercial space available in the state for lease or purchase. Legislators have touted this initiative (Senate Bill 3286/Assembly Bill 4750) as a…
Op-ed as seen on: ROI-NJ.comBy: George Jacobs and Ted Zangari
High on the list of antiquated regulations that are stifling competitiveness in New Jersey are those governing restaurant liquor licensing. So, kudos to Gov. Phil Murphy for being the first governor in modern state history to openly call for the overhaul of a system that for…
Recently passed legislation on Governor Murphy’s desk for enactment would require all new leases and lease renewals in New Jersey – both commercial and residential – to include specific disclosures regarding potential and past flooding. Similar disclosures would also be required to be added to the “Property Condition Disclosure Statement” for the sale of “any…
Governor Murphy this week signed the Elections Transparency Act, expanding reporting requirements for recipients of political contributions – thus the name of the new law. But the Act does more than expand reporting requirements. It weakens pay-to-play restrictions and increases the amounts that individuals and corporations may contribute to candidates and political parties. The changes…
