The New Jersey Legislature recently passed a bill that would amend the Permit Extension Act by lengthening the tolling period for development approvals protected by this Act until December 31, 2014. Governor Christie has now signed this amendment into law as of September 21, 2012. Hopefully, this will result in the future construction of numerous projects that otherwise may have been abandoned as a result of an economy that is still in the recovery stage. Please remember that just as before, no approval will extend beyond 6 months of December 31, 2014 (June 30, 2015) unless done so without the help of the Act.
Andrew S. Kohut, Esq. is an Associate practicing in the firm’s Real Estate and Land Use departments