Monthly Archives: June 2015

Residents are being reminded that under Township of Teaneck, Ordinances 37-9, corner properties near intersections, where applicable, must be maintained and have shrubbery, hedges, brush and all plant life kept to a height of no higher than 2 ½ feet from the level of the street

Despite already having the highest taxes in the nation, the New Jersey Assembly Appropriations Committee approved several bills earlier this week that will cost taxpayers more than $15 million. “I cannot understand how the majority party can continue to add more and more to the taxpayers’ burden when we cannot keep up with our current obligations,” said Assemblyman John DiMaio (R-23), Republican Appropriations Officer.

A very special home just sold for $1.8 million, representing the full asking price. The Buyer saw the full value of this property while the Seller (who was also the Designer and Builder) created a Jersey Shore paradise. The "Cottage by the Sea" is a fabulous modernist design on the corner of Newman Avenue in Mantoloking. Its clean lines and modern décor are reminiscent of a Nantucket cottage, complete with flagstone patio and inviting perennial gardens to relax in after a day at the beach

U.S. Senators Bob Menendez and Cory Booker today announced that the Community Loan Fund of New Jersey, Inc., CCG Partners, LLC, and the Reinvestment Fund, Inc. have been awarded a total of $170 million through the Community Development Financial Institutions (CDFI) New Markets Tax Credit Program (NMTC) to attract private investment and spur economic activity in low income communities throughout the state. This federal tax credit helps to fill project financing gaps by enabling investors to make larger investments than would otherwise be possible.

A bill co-sponsored by Assemblyman Jay Webber that increases the “Safe Haven” locations where at-risk newborns may be placed won approval from the Assembly Women and Children Committee today. Under the current “New Jersey Safe Haven Infant Protection Act,” safe haven options are limited to emergency departments of general hospitals and state, county and municipal police stations. Webber’s bill, A-4149, expands Safe Haven locations to include fire stations, ambulance, first aid and rescue squad sites that are staffed 24 hours a day, seven days a week

Continuing the Administration's work to treat addiction as an illness, Lt. Governor Kim Guadagno today joined Daytop New Jersey, Inc. to open its new adolescent outpatient and administration facility at Daytop's residential Pittsgrove site

In its continued effort to meet and assist Sandy-impacted families right in their home communities, the Christie Administration today announced that the 19th Information Session will be held Wednesday, June 24th, in Atlantic City, to provide personal assistance for storm-affected homeowners participating in the Reconstruction, Rehabilitation, Elevation and Mitigation (RREM) Program and LMI Homeowners Rebuilding Program

County College of Morris (CCM) and Fairleigh Dickinson University (FDU) signed a formal agreement this week launching the CCM-FDU Scholars Program to provide students with a significantly more affordable pathway for earning bachelor’s and master’s degrees from the university

Continuing the Administration's work to treat addiction as an illness, Lt. Governor Kim Guadagno today joined Daytop New Jersey, Inc. to open its new adolescent outpatient and administration facility at Daytop's residential Pittsgrove site

A real estate developer and landlord of commercial buildings in Palisades Park, New Jersey, appeared in federal court today to face a criminal complaint charging him with allegedly soliciting a $50,000 bribe payment for a Palisades Park borough official, U.S. Attorney Paul J. Fishman announced

U.S. Senators Bob Menendez and Cory Booker (both D-NJ) today announced $1.27 million in federal grants from the U.S. Department of Housing and Urban Development's (HUD) Housing Counseling Program to 13 local agencies throughout New Jersey.

As New Jersey continues to lead the nation in foreclosure rates – and specifically in “zombie” foreclosures – U.S. Senator Robert Menendez (D-NJ), Ranking Member of the Senate Subcommittee on Housing, Transportation and Community Development today introduced the Preserving American Homeownership Act, to help homeowners who are underwater on their mortgages remain in their homes. According to RealtyTrac, one out of every 594 New Jersey homes is in foreclosure.

Congressman Frank Pallone, Jr. (NJ-06) announced a $50 million award for tax credits from the U.S. Treasury Department to New Jersey Community Capital, which is located in New Brunswick. The funds, which will be used by New Jersey Community Capital to award tax credits to investors in projects, are aimed at stimulating economic growth in low-income urban neighborhoods and rural communities.

NJ nonprofit community developers testified on the sector’s multi-billion dollar economic impact at a State House hearing before the Assembly Commerce and Economic Development Committee today. Citing a report that found the sector has generated $12 billion for the state’s economy, over 100 advocates met with lawmakers urging greater investment in the state budget for housing and community development as part of the Housing and Community Development Network of New Jersey’s (the Network) annual Lobby Day

Gebroe-Hammer Associates has represented Forest Realty in the estate sale of two separate multi-family properties sold for a combined $113.5 million in Springfield and Morristown, N.J. The firm’s brokerage teams, led by Managing Director Joseph Brecher, also identified the buyers of Short Hills Village Club (Springfield) and Franklin Manor (Morristown). The sale of the properties, which were owned by Forest Realty for over 40 years, represents one of the state’s largest multi-family transactions recorded in 2015 thus far.

NJAA provided both written and verbal testimony before the Senate Community and Urban Affairs Committee in opposition to S-2824, sponsored by Senator Stack. The measure would require all new multifamily housing to be constructed with structural frames made out of concrete and steel, and include 3-hour rated firewalls in attics and cocklofts and fire stops on masonry walls every 30 feet

NJAA opposed S-1585, sponsored by Senator Turner (D-Mercer). The bill would prohibit the use of credit scores in evaluating the creditworthiness of applicants seeking to rent either affordable housing or market-rate housing while utilizing federal or State tenant-based rental assistance vouchers. Additionally, the bill sets forth specific criteria that apartment owners may use to evaluate such applicants.

More than $6 million in grants has been approved for county and municipal governments, and nonprofit and environmental groups for open space preservation projects in Morris County, as part of the 2015 state Green Acres funding awards announced by the state Department of Environmental Protection

The Morris County Improvement Authority has voted unanimously to hire a Florham Park based engineering firm, Matrix New World Engineering, Inc., for renewable engineering consulting services for the county’s solar energy projects

The Housing and Community Development Network of New Jersey (the Network) today released a guide to implementing the New Jersey Supreme Court’s March 2015 decision on fair share housing. Developing Effective Municipal Housing Plans aims to help advocates and nonprofit community developers usher in a new era of housing planning and municipal collaboration.