By Marc Leibman, Esq.
On December 29, 2014 Governor Christie signed the latest version of the Permit Extension Act. First enacted in 2008 and renewed again in 2010 and 2012, the Permit Extension Act extends permits granted to developers and property owners. Typical land use approvals in New Jersey expire if the developer does not obtain building permits and commence construction.
The Permit Extension Act is designed to protect valuable rights obtained by property owners and developers under New Jersey laborious Municipal Law Use Law. The notion behind the Permit Extension Act is to accumulate “shovel ready” projects so that when the economy in New Jersey eventually recovers the pace of the recovery will be accelerated.
The prior Permit Extension Act was set to expire on December 31, 2014. Until this legislation was signed by Governor Christie, the latest by which any prior approval could be extended was June 30, 2015. This extension pushes the deadline back at least another year. We applaud those legislators who supported this smart and thoughtful amendment to the Permit Extension Act.
If you or someone you know has questions about how the Permit Extension Act applies to approvals which you have obtained since 2008, feel free to call us. We represent developers.