The recently adopted federal tax reform legislation should cause owners of investment real estate to reevaluate the use of limited liability companies (LLCs) as they and other "pass through" entities may be able to take advantage of certain new tax provisions under the new legislation.
On November 21, 2017, the Board for the Casino Reinvestment Development Authority ("CRDA") adopted new land use regulations for the Atlantic City Tourism District that complement the newly adopted Master Plan for the District.
In a decision published on October 26, 2017, the Appellate Division affirmed the grant of summary judgment in favor of a commercial tenant against a realtor who claimed that the tenant, who had a right of first refusal under its lease to purchase the premises, was obligated to pay the realtor's commission arising from a separate contract with another prospective purchaser of the leased premises.
NPD Partner Eric Goldstein recently obtained local site plan & variance approvals for Dunkin’ Donuts for the construction of a new freestanding location with a drive thru lane in the City of Ventnor.
Keith Davis moderated a talented panel concerning economic development incentives.
Michael Peacock, Esq. speaks at the monthly meeting of the New Jersey Association of Recovery Residences ("NJARR") at the Enlightened Café in Ventnor on September 13, 2017.
The Courts now have competing affordable housing obligation numbers for Atlantic, Cape May, Cumberland and Salem Counties (“Region 6”). It will be up to the Court to decide next year but the potential requirements will have a tremendous impact on virtually every municipality.
The Summer/Fall 2017 NPD Newsletter is Here!
NPD Partner Steve Nehmad represented the developer of the Walmart which recently opened in Egg Harbor Township
Many shore municipalities, including Ocean City, are now adopting the Preliminary Work Flood Maps promulgated by FEMA as the official Flood Insurance Rate Maps (or "FIRM") of the municipality. These maps contain areas known as "Coastal A" zones that may be subject to waves of 1.5 feet or more. The state building code now has requirements for construction in these zones that become effective once the maps are officially adopted as the municipal FIRM.