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January 12, 2010

Re:   Bills Signed by the Governor

Dear Mayor:

Yesterday, Governor Corzine signed three League-supported bills into law.

S-869/A-3056 permits municipalities to adopt ordinances requiring bonds from landlords in certain circumstances.   The bill expands upon the option currently available to many shore communities statewide, and fulfills the objective of a League conference resolution from a few years ago.   More on this bill is available in our Dear Mayor letter of November 25, 2009.

S-924/A-3791 requires notification by the Department of Environmental Protection to coastal municipalities of certain settlement discussions. 

A-3657/S-2514 corrects an anomaly regarding the expiration of certain financial agreements between a municipality and an urban renewal entity that were signed after August 14, 1986 pursuant to the “Urban Renewal Corporation and Association Law of 1961,” P.L.1961, c.40 (C.40:55C-40 et seq.)   Financial agreements entered into under the Urban Renewal Law provided for tax exemptions for urban renewal projects and incorporated a contractual payment arrangement, referred to as a service charge, by the urban renewal entity to the municipality, in lieu of taxes.  This bill permits parties to financial agreements, which remain in effect and which were executed pursuant to the Urban Renewal Law after August 14, 1986 but prior to April 17, 1992, to extend those agreements for an additional 15 years from the initial expiration date of the agreement. 

If you have any questions or need additional information please contact Mike Cerra at 609-695-3481 x120 or by e-mail mcerra@njslom.com

Very Truly Yours,

 

William G. Dressel, Jr.
Executive Director


 

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