With an increased emphasis on mix-used developments and downtown centers, the landscape of New Jersey urban and suburban communities is changing. To encourage redevelopment, municipalities and counties have a powerful tool in the New Jersey Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et. seq. Adopted in 1992, the law permits municipalities to designate redevelopment zones and to create development plans for those zones that are intended to spur revitalization. The rules for redevelopment zones are different than for other forms of development within a municipality. Most notably, a municipality can select any developer it chooses to undertake the redevelopment project without putting the project to bid. Once selected, the developer can negotiate directly with the municipality for tax abatements and contribution for costs, such as environmental cleanup and demolition costs.
At Meyerson, Fox, Mancinelli & Conte, P.A. we have represented developers with projects throughout Bergen County. As counsel for redevelopers, our real estate and land use attorneys have negotiated development agreements with municipalities and obtained the approvals necessary to see the redevelopment project through from start to finish.
If your business is considering a redevelopment project, contact one of our attorneys today to see how we can help your business achieve its objectives.