52:27D-489i1 Provisions applied to mixed-used parking project.

464 words·~2 min read·/nj/title-52/chapter-27d/52-27d-489i1·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

3. Notwithstanding any provision of the "New Jersey Economic Stimulus Act of 2009," P.L.2009, c.90 (C.52:27D-489a et al.) to the contrary, the following provisions shall apply to a mixed-use parking project that is restricted under categories

(vi)or

(viii)of subparagraph

(b)of paragraph

(3)of subsection b. of section 6 of P.L.2009, c.90 (C.52:27D-489f) and undertaken by a municipal redeveloper after the effective date of P.L.2022, c.75 (C.52:27D-489i1 et al.), for which a redevelopment incentive grant is awarded:

a. A municipal redeveloper shall submit a temporary certificate of occupancy for such proposed mixed-use parking project no later than June 30, 2028.

(1)Except as provided in paragraph

(2)of this subsection, a redevelopment incentive grant award shall be equal to 100 percent of the total project costs allocated to the parking component of the project and 40 percent of the total project costs allocated to the non-parking component of a proposed mixed-use parking project.

(2)A redevelopment incentive grant award shall be equal to 100 percent of the total project costs allocated to the parking component of the project and 80 percent of the total project costs allocated to the non-parking component of the mixed-use parking project if the mixed-use parking project is:

(a)constructed upon all or a portion of a project site that was previously the subject of an award of tax credits pursuant to the "Urban Transit Hub Tax Credit Act," P.L.2007, c. 346 (C.34:1B-207 et seq.) or the "New Jersey Economic Stimulus Act of 2009," P.L.2009, c. 90 (C.52:27D-489a et al.), but the tax credits were not issued;

(b)an entertainment venue with seating capacity in excess of 5,000; or

(c)constructed to be utilized by a visitor center or youth center within or adjacent to a national historic park.

c. The terms of any approval, granted by the authority, for a proposed mixed-use parking project undertaken by a municipal redeveloper, which has not yet commenced construction activities other than demolition or site work, may be modified to reflect the terms established pursuant to P.L.2022, c.75 (C.52:27D-489i1 et al.), upon application to the authority for review and approval; provided, however, the developer shall not be required to pay any fee that may be established under law or regulation related to the application for modification.

All dates of required action by a municipal redeveloper contained in an approval, granted by the authority, shall be automatically extended by the thirty-month period corresponding to the temporary certificate of occupancy submission date established by subsection a. of this section.

d. All proposed mixed-use parking projects shall comply with Leadership in Energy and Environmental Design

(LEED)standards, to the extent that the United States Green Building Council shall have promulgated standards for the project type proposed.

L.2022, c.75, s.3; amended 2024, c.71, s.3.