For individuals or private businesses interested in redeveloping contaminated, dilapidated or outdated New Jersey properties there is a myriad of funding opportunities available through the New Jersey Economic Development Authority (“EDA”).
Lawrence Raimo v. Robert Fischer – Appellate Division discussed a contractor’s duty of care for individuals who may come onto their construction site.
Under the Internal Revenue Code (“IRC”) a taxpayer who rehabilitates any certified historic structure may receive a credit for 20% of the qualified rehabilitation expenditures used in performing this task.
Sumo Property Management, L.L.C. v. City of Newark – In this matter, the taxpayer alleged assessment discrimination and claimed that the City of Newark’s tax assessor and corporate counsel wrongfully denied it the right to enter into a tax abatement/exemption agreement.
When a commercial tenant files for bankruptcy, a landlord can easily feel lost in a minefield of bankruptcy court orders and notices, dealing with post-petition financing, claim deadlines, and creditor meetings.
I/M/O Petition for a Declaratory Ruling Regarding the City of Plainfield’s Park-Madison Site – Appellate panel holds that the site does indeed meet the exception carved out by amended N.J.S.A. 13:8A-47, was exempt from Green Acres, and therefore the residents of Plainfield are not entitled to a replacement parcel or compensation.
It is critical that homeowners associations be vigilant of the way in which their municipality assesses taxes on the community’s common area. Common areas include clubhouses, pools, and recreation areas such as playgrounds and tennis courts. In New Jersey, statute N.J.S.A. 46:8B-19 states that towns and municipalities may not tax a condominium’s common elements.
Most residential real estate contracts are prepared by real estate brokers. When a broker prepared contract of sale is signed by a buyer and seller, both have the right to consult an attorney who can then “disapprove” the contract for any reason or no reason at all and terminate the contract of sale.
Centex Homes, LLC v. Township Committee of Mansfield Township – The proper standard of applying a general development plan is that survival of a portion of the plan is dependent on the survival of the whole plan.
Phillis v. Developers Diversified Realty Corp. – The New Jersey Court of Appeals found that in this matter a hearing that resulted in final site plan approval and variances, was not inadequate when compared to the amount of previous hearings held on the project.
