In the News

New Homes for Residential Projects

NJBIZ

February 25, 2013

According to this article, “The idea of overhauling New Jersey’s package of business incentives has been widely praised in the business community, but the proposed changes could have a significant impact on how – and where – the state supports residential development.  

Ted Zangari, a real estate attorney with Sills Cummis & Gross, said the new rules ensure money will go where it’s needed most.

‘The beauty of the developer incentive is that there is a subsidy available … only where a developer demonstrates to the EDA that, after exhausting all other sources of public and private financing, a nagging construction gap persists that must be filled in order for the project to move forward,’ Zangari said.”