Significant revisions to the remediation standards (N.J.A.C. 7-26D) were adopted by the New Jersey Department of Environmental Protection (NJDEP) on May 17, 2021. The rule includes:
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The State of New Jersey continues its support of revitalizing brownfields with the enactment of the New Jersey Economic Recovery Act of 2020, P.L. 2020, c. 156, which was signed into law by Governor Murphy on January 7, 2021 (the “Act”). The Act includes new programs, including a tax credit program entitled the Brownfields Redevelopment Incentive Program Act . On January 12, 2021, the New Jersey Economic Development Authority (“NJEDA”) Board of Directors approved the implementation of the NJEDA Brownfield Loan Program, which is part of the broader NJEDA Community Revitalization initiative. Both programs will cover many types of remediation costs but will entail a demonstration of a project financing gap, as well as compliance with Prevailing Wage and Affirmative Action requirements. Although the Brownfield Redevelopment Incentive Tax Credit program is still being developed, NJEDA is currently accepting loan applications from January 14 through April 13, 2021.…
Continue Reading New Brownfields Redevelopment Incentive Programs in New Jersey
On January 7, 2021, New Jersey Governor Murphy signed the New Jersey Economic Recovery Act of 2020. P.L. 2020 c. 156. Included within the statute is the Brownfields Redevelopment Incentive Program Act. This section of the law creates a tax incentive program for a redeveloper of a brownfield site to obtain a tax credit to close a “project finance gap” and provide needed financing for the remediation and redevelopment of a brownfield site. The program, which is administered by the New Jersey Economic Development Authority (“EDA”), is summarized below.…
Continue Reading What Real Estate Developers Need to Know About the 2020 New Jersey Brownfields Tax Credit
On April 6, 2020, the New Jersey Department of Environmental Protection (“NJDEP”) proposed substantial changes to the Remediation Standards at N.J.A.C. 7:26D, promulgated under the Brownfield and Contaminated Site Remediation Act, N.J.S.A. 58:10B-1 et seq. (“Brownfield Act”). The proposal seeks to amend the existing Remediation Standards in a number of ways, many of which have …
David J. Mairo was featured on Envision Environmental, Inc.’s The Business of Environment podcast discussing how to strike an appropriate balance between the technical and legal sides of environmental issues such as site remediation, land use, real estate transactions and regulatory compliance to achieve results clients, regulators and other stakeholders can agree on. Throughout the…
Once again, a recent Appellate Division Panel opinion has environmental lawyers and their clients realizing that the New Jersey Department of Environmental Protection (“DEP”) may collect penalties in the state’s municipal courts. This time, the case concerned penalties assessed by DEP for failure to follow state site remediation requirements imposed by the Site Remediation and…
On August 23 2019, New Jersey Governor Phil Murphy signed into law A5293, which amends the Site Remediation Reform Act (SRRA). The amendments are wide ranging and include exemptions from direct oversight, authorization to use surety bonds as remediation funding sources, and a requirement that the person responsible for conducting the remediation respond to public inquiries regarding the status of a remediation.…
Continue Reading New Jersey’s SRRA Amended: What’s Changed?
The United States 8th Circuit Court of Appeals recently decided that a tire company and its affiliate could be held liable under the Comprehensive Environmental Response, Compensation and Liability Act at 42 U.S.C. § 9601 et seq. (“CERCLA”) for selling property knowing that the contaminated buildings thereon would be demolished. Dico, Inc. (“Dico”) owned…
