Search
 

Permit Extension Bill is Now Law

TRENTON-The governor's signature extends building permits, set to expire this year, through December 2010.

By Eric Peterson | Updated on September 08, 2008

[IMGCAP(1)]TRENTON-The first bill that’s part of a 12-bill legislative package put together by a coalition of developers and businessmen has become law. Gov. Jon Corzine yesterday signed the Permit Extension Act of 2008, effectively extending building permits that were set to expire at the end of this year through Dec. 21, 2010. Both chambers of the state legislature had earlier approved the measure by wide margins in early summer.

Proponents of the bill had cited economic conditions and the possible impact on getting projects done within the time limit imposed by existing and new permits as the reasoning behind the legislation. “With expiring permits now frozen, developers will be in a position to thaw out their approvals and put them to productive use as soon as the market begins to turn around,” Ted Zangari, a member of the Newark-based Sills Cummis law firm, tells GlobeSt.com.

[IMGCAP(2)]Zangari is also a founder of the Smart Growth Economic Development Coalition, the advocacy group behind the bill and the larger legislative initiative. “This action will contribute to, if not spur, a recovery,” he says. “Recent actions by Gov. Corzine indicate that he has his game face on and is serious about retaining and recruiting businesses, and about revitalizing the state’s smart growth areas.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.