Pandemic Darlings The pandemic economy, in original documents
Home Source documents Assembly Commerce and Economic Development Committee Statement to Assembly, No. 4525, Dated May 14, 2026

Assembly Commerce and Economic Development Committee Statement to Assembly, No. 4525, Dated May 14, 2026

Summary

Statement of the Assembly Commerce and Economic Development Committee of the State of New Jersey, dated May 14, 2026, reporting Assembly Bill 4525 favorably. The bill extends the deadline for a developer to submit a temporary certificate of occupancy for certain qualified residential or mixed-use parking projects under the Economic Redevelopment and Growth Grant program from June 30, 2028 to June 30, 2032. The extension covers projects approved under the program after May 1, 2017 and located in a Garden State Growth Zone with a population over 125,000, outside specified counties, where the municipality sent a letter of support to the New Jersey Economic Development Authority before July 1, 2018. It also covers mixed-use parking projects undertaken by a municipal redeveloper after July 29, 2022 with a redevelopment incentive grant.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT
                COMMITTEE

                          STATEMENT TO

                     ASSEMBLY, No. 4525

       STATE OF NEW JERSEY
                             DATED: MAY 14, 2026

          The Assembly Commerce and Economic Development Committee
      reports favorably Assembly Bill No. 4525.
          As reported, this bill extends the deadline for a developer to submit
      a temporary certificate of occupancy for certain qualified residential
      projects or mixed-use parking projects under the Economic
      Redevelopment and Growth Grant program (program) to June 30,
      2032. Under current law, the deadline to submit this documentation is
      June 30, 2028.
          Specifically, this extension applies for any residential project or
      mixed-use parking project: (1) that was approved under the program
      after May 1, 2017; (2) that is located in a Garden State Growth Zone
      with a population over 125,000, except not including those projects
      located in Atlantic, Burlington, Camden, Cape May, Cumberland,
      Gloucester, Ocean, and Salem counties; and (3) for which the
      municipality in which the project is located submitted a letter of
      support to the New Jersey Economic Development Authority
      identifying up to six projects prior to July 1, 2018.
          This extension also applies for any mixed-use parking project: (1)
      that is undertaken by a municipal redeveloper after July 29, 2022; (2)
      for which a redevelopment incentive grant is awarded under the
      program; and (3) that is located in a Garden State Growth Zone with a
      population over 125,000, except not including those projects located in
      Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester,
      Ocean, and Salem counties.

File and source

File
2026-05-14_ACE_A4525_S1.pdf
Size
112,278 bytes
SHA-256
fdc2bb6a394d7e602e8dec3c189f702846aac93e7bc29fff3bbd61f4f21dcab8
Our copy
2026-05-14_ACE_A4525_S1.pdf
Original
pub.njleg.state.nj.us
Back to top