April 16, 2009
Re: I. S-2484, Commercial Development Fee
I. S-2485, Commercial Development Fee
We have received numerous inquiries regarding the status of S-2485, which would enact an 18-month moratorium of the 2.5% fee on non-residential development. It is our understanding that at least a couple of municipalities have been asked to refund the fee by developers. Such a request is premature.
S-2485 passed the State Senate on March 16. It now awaits consideration by the Assembly Housing and Local Government Committee. At this point, we do not know if the Assembly will consider the bill when it returns from the “budget break” in early May.
For more on this bill, please see our Dear Mayor letters of March 17 and March 4. Questions can be directed to Mike Cerra at firstname.lastname@example.org or 609-695-3481 x120.
Very truly yours,
William G. Dressel, Jr.