Monday, June 23, 2014

DeCroce Bill Extending Permit Extension Moratorium Date Helps State's Economic Development

Assembly Republican Press Release -
Legislation sponsored by Assembly Republican BettyLou DeCroce, R-Morris, Essex and Passaic, that re-instates the moratorium on the imposition of fees on non-residential construction projects through December 31, 2014, was approved by the General Assembly today. The moratorium had expired on July 1, 2013.
“The building industry is one of New Jersey’s key economic drivers as it creates jobs and facilitates commerce,” said DeCroce. “Extending the moratorium will save builders from re-applying for approvals previously obtained which only drives up the costs of a project. Unlike some recent legislative proposals that will hurt job growth in New Jersey, this bill will help build it.
“Many jobs are created both directly and indirectly due to the construction industry, such as suppliers, retailers, financial institutions and real estate,” stated DeCroce. “I would like to thank my colleagues Assemblymen Bramnick, Burzichelli, Singleton and Wimberly, and Assemblywoman Lampitt for working in a bipartisan manner on this legislation.”
The legislation, A-1907, provides that municipalities are required to return any monies paid by a developer during the time period between July1, 2013, through the effective date of the bill. Municipalities that have already spent such fees on affordable housing projects would not be required to provide a refund.

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