Tagged: DCA

“Housing is Health Care”: New Jersey HMFA Launches Program for Supportive Housing Partnership with Hospitals

“Housing is Health Care”: New Jersey HMFA Launches Program for Supportive Housing Partnership with Hospitals

The New Jersey Housing and Mortgage Finance Agency (HMFA), in collaboration with the New Jersey Hospital Association, has announced a pilot subsidy program to promote investment by hospitals throughout New Jersey in affordable and supportive housing. The program was previously endorsed by the New Jersey Hospital Association’s Board of Trustees. Following a number of recent studies highlighting the interconnection between stable, safe, and affordable housing and maintaining a higher quality of life, HMFA created a partnership program for New Jersey’s hospitals and affordable housing developers to try and fill a notable void in supportive housing. Hospitals are encouraged to work with developers to target housing for special needs residents or users of frequent emergency room services. HMFA anticipates the projects would consist of 60-70 units and can include mixed-use space for doctors’ offices, clinics, or other community uses. Approximately ten of the units would be set aside for low-income households (50 percent of gross median income), and the remainder would be restricted to households of moderate income (80 percent of gross median income). The program, currently funded with $12 million, seeks to match funding contributions from hospitals up to $4 million to fund three or four projects in New Jersey. The...

COAH Fees – Some Certainty in an Uncertain World 0

COAH Fees – Some Certainty in an Uncertain World

While much of the uncertainty regarding affordable housing requirements in NJ remains, the questions involving the applicability and future of the 2.5% nonresidential development fee were answered yesterday. Acting Governor Kim Guadagno signed into law legislation that reestablishes the exemption from the fee for eligible projects. Perhaps the most broadly applicable exemption provides that projects which obtain preliminary or final site plan approval prior to July 1, 2013 are not subject to the development fee provided that building permits are issued by December 31, 2015.

NJ Senate Considering Whether to Limit Power of DEP, DCA Commissioners 0

NJ Senate Considering Whether to Limit Power of DEP, DCA Commissioners

On February 17, 2011, the Assembly unanimously adopted bill A 2722. The bill, which is intended to implement some of the findings of the Red Tape Review Group, would amend the Administrative Procedures Act and provide administrative law judges (“ALJs”) with more tools to streamline contested administrative law cases. Interestingly, however, the bill would also strip the Commissioners of the New Jersey Department of Environmental Protection (“DEP”) and Department of Community Affairs (“DCA”), as well as some others, of their power to review, modify, or reject ALJs’ decisions in contested cases.

Due Diligence in Acquiring Distressed Debt — Part One 0

Due Diligence in Acquiring Distressed Debt — Part One

There is no shortage of buyers anxious to buy distressed mortgages. The simple reason is the possibility of substantial profit if a loan can be purchased at a significant discount and there is a realistic possibility that the borrower or, if it forecloses, the lender, will be able to salvage the property. This is the first of two articles about counseling clients in acquiring distressed commercial mortgage loans. Bankruptcy, special assets such as condominium properties and UCC foreclosures are beyond the scope of these articles.

Want to Expedite Your Real Estate Development Approvals in New Jersey? Want to Get Your Building Permit as Soon as Possible?  Did You Know About This Regulation? 0

Want to Expedite Your Real Estate Development Approvals in New Jersey? Want to Get Your Building Permit as Soon as Possible? Did You Know About This Regulation?

In New Jersey, it is very typical for a municipality’s building department to refuse to accept a developer’s construction drawings until the developer has received all of its local, county, state, and other applicable agency approvals (e.g. site plan approval, an NJDEP permit; or an NJDOT permit). This should not be happening.

Governor Christie’s Affordable Housing Plan 0

Governor Christie’s Affordable Housing Plan

In an announcement made on May 13, 2010, Governor Chris Christie outlined a plan for affordable housing that will abolish the 25 year old Council on Affordable Housing and transfer control for housing plans to local authorities, with review by the Department of Community Affairs (“DCA”). According to Acting DCA Commissioner Lori Grifa, “Unfortunately, the Council on Affordable Housing has often times been more burden than benefit to the point that New Jersey as a whole has fallen far short of its affordable housing goals … The Governor’s new affordable housing plan is a fresh approach that gives more control and flexibility to local governments while limiting state involvement. Ultimately, this plan will result in more affordable housing units being built in communities across the state.”