Investment Opportunity with Neighborhood Revitalization Tax Credit (NRTC) Program

The New Jersey Department of Community Affairs, on or about November 21, 2017, will start accepting applications for tax credits from companies with a state business tax liability, up to a maximum of $1 million per company. The applications would be submitted to the Neighborhood Revitalization Tax Credit Program (NRTC), which is designed to foster the revitalization of New Jersey's distressed neighborhoods.

DCA Re-Adopts Rooming & Boarding House Rules Without Amendment

On September 5th, the New Jersey Department of Community Affairs ("DCA") decided to re-adopt its existing rules regarding rooming and boarding houses without any amendment. The DCA previously had published a notice of rule making proposing new rules governing cooperative sober living residences. However, none of those proposed rules went into effect. Thus, the status quo remains regarding the existing rules governing rooming and boarding houses.

Nehmad prevails in court for Ocean City hotel developer

In a decision concerning arbitrary decision-making and the relevancy of the condominium form of ownership in the context of a hotel development, NPD Partner Stephen Nehmad recently prevailed in litigation on behalf of the developer of a hotel resort in Ocean City, New Jersey.

Buyer Beware: Tidelands Claims Can Affect Shore Purchases

Homes are bought and sold all the time in Stone Harbor, Avalon, Sea Isle and other coastal communities. But what should be a simple sale of real estate can quickly become complicated, frustrating and expensive if the property is affected by a tidelands claim.

Real Estate Development Financing Available Through NJEDA

If you are a for-profit or non-profit developer or business seeking to advance a real estate development project in New Jersey, you may be eligible for up to $3 million in financing through the New Jersey Economic Development Authority (NJEDA). The NJEDA has created the Real Estate Impact Fund to support and foster redevelopment in strategic urban and other significant locations in New Jersey that would not otherwise occur in the near term, and to strengthen existing and catalyze future development opportunities and private investment.