Category Archives: Government
What Does Christie’s Election Mean for Urban NJ, especially Newark, East Orange & Irvington?
November 3rd marks a day when the voters of NJ said ENOUGH and summarily dismissed John Corzine and the 12 years of democratic rule that preceeded him. Chris Christie presented himself as the “Not John Corzine” candidate and was able … Continue reading
Filed under Government
Newark to Reassess All Ratables
The Newark, NJ city council is about to authorize $4mm to reassess all properties in the city. It is required by the state that each municipality go through this process every 5 years. It has been 6 years for Newark … Continue reading
Filed under Current Events, Finance, Government
The flood gates burst open.. well kind of
As reported by Mobilizing the Region, in the last week of June 2009 the NJ State Legislature passed legislation amending the Urban Transit Hub Tax Credit program. The expanded tax credit program will provide a 100% corporate business tax credit … Continue reading
Filed under Development, Government
The Misguided Adventure of Homeownership
I read a great article from City Journal last night written by Steve Malanga. The article chronicles the governments misguided efforts to promote homeownership and how these efforts led to many crisies over the past century and are responsible for … Continue reading
Filed under Current Events, Government
Mayor Booker speaks out against NJ government largesse (or largeness)
Mayor Corey Booker spoke out against the bloat of the NJ government, public workers, uncompetitive business environment, excessive taxes, etc… etc… “New Jersey will go bankrupt in 10 to 20 years because we cannot afford our employees as a state,” … Continue reading
Filed under Corey Booker, Current Events, Government
“Dear Mr. Governor”
Corey Booker’s Letter to Governor Corzine: According to a recent media account, the New Jersey Sports Exposition Authority (“NJSEA”) is preparing to hire an architect to improve Izod Arena as construction continues on the long- overdue, incomplete Xanadu project. I … Continue reading
Filed under Corey Booker, Current Events, Government
Making sense of Urban Transit Hub Tax Credits
Any one interested in development in New Jersey, urban or otherwise, has to be aware of the Urban Transit Hub Tax Credit program. This is a program initially passed by Gov. Corzine in December of 2007. The simple explanation is … Continue reading
Filed under Development, Government
Newark Updates Zoning Code
About a week or so the Planning Department of the City of Newark released amendments to the zoning ordinance. I have spent some time reviewing the changes and have to say it is a step in the right direction. Newark’s … Continue reading
Filed under Development, Government
NJ Credit Rating to remain unchanged
“Corzine’s $29.8 billion budget for the fiscal year that begins July 1 would cut property-tax rebates and raise levies on the wealthiest residents to help close a $7 billion deficit. The first-term Democrat, who faces re-election in November, also wants … Continue reading
Filed under Current Events, Government
Newark moving forward with redevelopment plans around Newark Liberty Airport
“Newark officials have taken the first steps in redeveloping some of the most troubled sections of the city’s air and sea ports, which when expanded and improved may lead to the creation of new businesses and jobs for residents.” I … Continue reading
Filed under Current Events, Development, Government, Real Estate Market
Izod Center and Prudential Center battle to be the area’s top venue
“More than a year after the Prudential Center opened, the aging state-operated Meadowlands arena it was expected to supplant is still there, and the two are locked in a steel cage death match, battling almost daily for the same lucrative … Continue reading
Filed under Current Events, Government
Gov Corzine Shows Support for Pro Development Bills
See Full Article “Gov. Corzine further stated that he is “totally committed” to the urban hub concept . “It is how we rebuild Newark, Camden and our communities,” he said. The RAD bill, “without too much modification, is something I … Continue reading
Filed under Current Events, Development, Finance, Government
The FED releases TALF Details & Timelines
Available today on the Federal Reserve Website is a press release detailing the Term Asset-Backed Securities Loan Facility (TALF). See Fed Release The aim of TALF is to increase the availability of credit to US consumers and business by facilitating … Continue reading
Filed under Finance, Government
Commercial Property Owners Appealing Assessments
Commercial property owners throughout the state are appealing their tax assessments. Any good commercial property owner should be doing this every year anyway since certioraris work on a contingency basis. As for the repercussions to the townships tax rolls, … Continue reading
Filed under Current Events, Government, Real Estate Market
Corey Booker’s State of the City Speech
It is a pretty long speech but you have to come away liking the guy. I liked him before the speech and feel he is the best thing to happen to Newark since the Robert Treat. See it here
Filed under Government
Booker says all options are on the table… How about repealing rent control?
In Corey Booker’s now infamous State of the city speech, the mayor spoke about financial shortfalls that the city is facing. “The city also faces critical financial shortfalls, and to fill them Booker said all options are on the … Continue reading
Filed under Government, Multifamily
Court Denies EnCap Golf Ch. 11 Motion
A controversial plan to build a massive mixed-use project on 800 acres of reclaimed landfills in the Meadowlands took another turn earlier this week when a US Bankruptcy Court judge dismissed a Chapter 11 reorganization motion filed by EnCap Golf … Continue reading
Filed under Development, Government, Uncategorized
Govenor Corzine Creates Real Estate Advisory Board
Announced on December 29th when EVERYONE is paying attention*wink*… http://www.politickernj.com/governors-press-office/26240/governor-corzine-creates-new-jersey-real-estate-advisory-board It seems that NJ as a state has finally realized that it needs to be more business friendly and change policies or create incentives to attract business to the Garden … Continue reading
Filed under Government
