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Legislature Approves Extension of Moratorium on Nonresidential Development Fee; Governor Announces Reorganization Plan That Would Abolish COAH


June 30, 2011 - Red Bank - The State Legislature yesterday approved legislation that would retroactively extend the moratorium on the nonresidential development fee (S-2974). Through prior legislation, an exemption to the 2.5% fee was carved out for nonresidential development that received preliminary or final site plan approval prior to July 1, 2010. This legislation would extend the exemption for projects the received preliminary or final site plan approval prior to July 1, 2013, provided a building permit is obtained prior to January 1, 2015.

If a developer already paid the fee, that developer is entitled to a refund so long as the municipality has not already spent that money. An analysis of municipal fair share plans and affordable housing trust funds would be necessary to determine if the monies had already been spent.

The legislation still has to be signed by the Governor to become law.

On a related matter, the Governor announced yesterday a reorganization plan that would eliminate COAH by the end of August and transfer its powers to the Department of Community Affairs. The plan is being submitted to the Legislature.

Please visit www.ghclaw.com for additional updates on the Legislation.
Tags: Craig M. Gianetti, Real Estate, Land Use & Development

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