Amendment to Permit Extension Act Signed Into Law in New JerseyJanuary 2010 – Alerts Zoning & Land Use Practice Group Alert
As one of his final acts as Governor, Jon Corzine signed into law A-4347, which amends the Permit Extension Act of 2008, N.J.S.A. 40:55D-136.1 et seq., (the “Act”) by extending the expiration date of the permits and approvals covered by the Act until December 31, 2012. As law, this bill confers a significant benefit to developers of approved projects who will be further protected from forfeiture of the time and money invested in obtaining the various permits and approvals required for land development. Prior to the passage of A-4347, the Act created an automatic extension period of covered permits and approvals to July 1, 2010. All other requirements of the Act remain in full force and effect, and no approval affected by A-4347 can be extended more than six months after the end of the extension period, or June 30, 2013. This law is intended to aid a beleaguered real estate development industry weather the uncertain economic landscape of 2010.
If you have any questions about the amended Permit Extension Act, please feel free to contact the New Jersey members of Fox Rothschild’s Zoning and Land Use Practice Group.