Acting New Jersey Governor Kim Guadagno on Wednesday signed legislation that extends the moratorium on the imposition of fees on non-residential construction projects. The 2.5 percent non-residential fee was previously issued commercial and industrial real estate developers to help municipalities meet affordable housing obligations. A moratorium of the non-residential fee requirement was initially placed on the imposition of fees until July 1, 2010. The legislation will help continue the delay of the construction of affordable housing in New Jersey, something that has been hotly contested among state lawmakers in recent months. Read More…
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