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Will Governor Christie Extend the Moratorium on Non-Residential Development Fees?
July 29, 2014 | Comments Off on Will Governor Christie Extend the Moratorium on Non-Residential Development Fees?
Posted by Michael A. Bruno
Co-Authored By Steven P. Gouin
A new bill (A1907) that would extend the statewide moratorium on the collection of non-residential development fees (“NRDFs”) recently passed both the New Jersey State Assembly and Senate. It now awaits Governor Christie’s signature. If signed into law, the bill would reinstate the moratorium on the collection of NRDFs that expired July 1, 2013, extending it to December 31, 2014. Developers who paid NRDFs during that period would be eligible to seek a refund, which must be granted so long as the NRDF has not already been expended for affordable housing.
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Tags: Moratorium > Non-Residential Development Fees
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