April 4, 2017: If you were planning to build a parking structure, would you invest in a 30-year bond to finance it?
That’s the question Bob Goldsmith, partner and co-chairman of redevelopment and land use for Greenbaum, Rowe, Smith & Davis LLP, posed at the beginning of the Redevelopment Forum session entitled “The Future of Parking, Today.”
Downtowns across New Jersey are facing a unique set of challenges. While many towns are seeing a rise in the number of people who want to live in a walkable, mixed-use town center, they are also facing the challenges of keeping their downtowns vibrant and full of retail tenants when New Jerseyans increasingly do most of their shopping on laptops and not in stores.
Everyone in municipal circles is talking about affordable housing. More than 325 New Jersey municipalities have entered the judicial affordable housing process established by the Supreme Court in In Re Adoption of NJAC 5:97 (Mt. Laurel IV). The goal of these actions is to reach a judicial determination of each town’s affordable housing obligation.
On March 16, 2017, Downtown New Jersey President Bob Goldsmith submitted a letter to Department of Community Affairs Commissioner Charles Richman detailing the organization’s opposition to a proposed rule that would require volunteer directors and members of a BID or SID to file financial disclosures.
According to a September news release from Assembly Democrats, the legislation, bill A2223, would establish the “Main Street Economic Growth Program” in the New Jersey Economic Development Authority to provide financial and technical assistance to a business in a Main Street area within a small municipality.
On Oct. 19, 2015, the Superior Court handed down a ruling that limits municipalities’ discretion in creating special improvement districts (SIDs). The issue at hand was whether a city is permitted to include in its SID the entire municipality (with the exception of residences) under the enabling statute N.J.S.A. 40:56-65 et seq. (the “Statute”).
