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Hackensack Redevelopment Challenge Permitted Over Objection to Hearing Notice
Redevelopment Notice Statute Upheld as Constitutional on Appeal Despite categorizing certain notice provisions in New Jersey’s redevelopment statute as “spotty and incomplete” based upon the 2008 decision in Harrison Redevelopment Agency v. DeRose, 398 N.J. Super. 361 (App. Div. 2008), the New Jersey appellate court recently upheld the method by which planning boards must... Read More
Late Claim Allowed in Zoning Dispute
The New Jersey Supreme Court reinstated a dismissed complaint after finding that the forty-five day statute of limitations in R. 4:69-6(b)(3) should be enlarged because “‘it is manifest that the interest of justice so requires.’” The facts were undisputed. In May 2008 the Hopewell Township Planning Board granted preliminary site plan approval for a development... Read More
Senate Passes Tax Appeal Reform for Monmouth County
The New Jersey Senate has approved legislation that would establish a real property assessment “demonstration program” in Monmouth County. The bill, Senate Bill 2234, attempts to reduce costs while improving the accuracy of the property assessment process by addressing costs from successful tax appeals versus merely consolidating the county-based system. The new system shifts assessment,... Read More
Eminent Domain Reform Legislation Fails in NJ Senate
Last week, the New Jersey Senate failed to adopt the latest version of Senate Bill 1451 after the bill’s sponsor requested the bill be pulled with support from only 13 senators. The bill would redefine the term “blight” based on the New Jersey Supreme Court’s 2007 opinion in Gallenthin Realty Development Inc. v. Paulsboro, 191 N.J.... Read More
ARC Tunnel Costs Continue to Mount
Report: ARC Tunnel costs already spiralled before project cancellation. http://ping.fm/Q0CWc... Read More
New transportation plan unveiled
Governor Christie unveils 5 year transportation plan: http://ping.fm/3e6fb... Read More
Mt. Holly Gardens Project Survives Discrimination Claim
Federal Court Finds No Disparate Impact on Low Income Property Owners Replacement of low-income housing by eminent domain with higher-priced homes as part of a redevelopment project does not constitute disparate treatment if all its residents, not just minorities, cannot afford to stay according to U.S. District Judge Noel Hillman. In an opinion released on... Read More
Federal Agency Releases New Appraisal Guidelines for Financial Institutions
Financial institutions have new guidelines to follow when conducting real estate appraisals and evaluations. The Interagency Appraisal and Evaluation Guidelines, which replace the 1994 guidelines, explain the minimum regulatory standards for appraisals. Highlights from the Guidelines and its appendices include: * recognizing that a borrower’s ability to repay real estate loans according to reasonable terms... Read More
Farmland Assessment Practices Growing Concern for Two Senators
An article in the Asbury Park Press highlights the efforts of Senate President Stephen M. Sweeney, D-Gloucester, and Sen. Jennifer Beck, R-Monmouth, to end alleged abuses of the farmland assessment system in New Jersey. New Jersey law currently requires a minimum of five acres and $500 in sales to qualify for the reduced tax assessment. Possible... Read More
