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S 3116

Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.

2026-2027 Regular Session Introduced by Benjie Wimberly

Extends the deadline to submit a temporary certificate of occupancy for eligible ERGG projects in Growth Zones to June 30, 2032.

Reported from Senate Committee, 2nd Reading
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Bill Summary · S 3116

Overview

S.3116 (Wimberly) extends the deadline to submit a temporary certificate of occupancy (TCO) for certain qualified residential projects or mixed-use parking projects under the Economic Redevelopment and Growth Grant (ERGG) program, pushing the deadline from June 30, 2028 to June 30, 2032. The bill also makes related conforming changes to the ERGG statute and to the 2022 act governing certain ERGG awards.

Purpose and intent

  • Provide additional time for developers of specific ERGG-supported projects to achieve project completion and submit the required TCO documentation.
  • Align project timelines with extended development horizons in Garden State Growth Zones, particularly for larger urban areas and projects with parking components.
  • Maintain flexibility for municipal redevelopers undertaking eligible mixed-use parking projects after July 29, 2022.

Key provisions and changes

  • Amends Section 6 of P.L.2009, c.90 (C.52:27D-489f) to extend the TCO submission deadline for:
    • Qualified residential projects and mixed-use parking projects that were approved under ERGG after May 1, 2017.
    • Projects located in Garden State Growth Zones with population >125,000, excluding specific counties (Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, Salem).
    • Projects where the municipality submitted a letter of support identifying up to six projects before July 1, 2018.
    • For mixed-use parking projects, similar eligibility applies if undertaken by a municipal redeveloper after July 29, 2022, with an ERGG award and located in a qualifying Growth Zone.
  • Conforming details from the 2022 act (P.L.2022, c.75) regarding grant calculations, credits, and eligibility remain intact but are referenced in the context of the extended deadline.
  • The bill preserves the existing framework for calculating incremental revenues, eligibility criteria (environmental standards, affirmative action, prevailing wages, and wage requirements), and the ability to receive tax credits in lieu of cash-based grants if incremental revenue funding is insufficient.
  • Maintains the requirement that grant credits have defined maximum totals and category-specific allocations, including dedicated pools for residential, mixed-use parking, and university-related infrastructure, with various geographic and project-type restrictions.

Who/what is affected

  • Developers of eligible ERGG projects (primarily residential and mixed-use parking projects) within Garden State Growth Zones meeting the specified criteria.
  • Municipal redevelopers undertaking applicable mixed-use parking projects after mid-2022.
  • Local governments and project sponsors relying on ERGG tax credits and grant incentives for project finance.
  • Stakeholders in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, and Salem counties are expressly excluded from certain extended-timeline provisions.

Procedural and timeline aspects

  • Effective date: immediate.
  • Extended deadline for TCO submission: June 30, 2032 (from June 30, 2028) for eligible projects meeting the bill’s criteria.
  • No change to other ERGG requirements, application windows, or credit structures beyond the deadline extension.
  • The extension is contingent on projects being within the defined Growth Zone and meeting the specified pre-2018 support letter conditions (or post-2022 municipal redevelopment context for certain mixed-use parking projects).

Practical impact

  • Provides additional time to finalize construction and obtain occupancy approvals without forfeiting ERGG credits or grant eligibility.
  • Encourages longer development timelines in high-growth urban areas and supports projects with significant parking components within designated zones.
  • Could influence project scheduling, financing plans, and coordination between municipalities, developers, and the New Jersey Economic Development Authority.

Compiled from official sources — confirm details with the bill’s official record.

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