Guadagno’s signature will lift New Jersey’s commercial development fee

    A bill to be signed today by Lt. Gov. Kim Guadagno will reinstate New Jersey’s moratorium on commercial development fees, making way for 30 projects waiting in the wings.

    Guadagno, in her role as acting gov. while Chris Christie is out of town, says these projects will create about 6,000 jobs.

    As NJ.com reports, the 2.5 percent fee on non-residential commercial developments will be suspended once again, after the initial moratorium expired last year. The reprieve is back-dated to that expiration date, meaning companies who paid the fee in the last year are entitled to a refund if the community where they spent the money hasn’t spent it yet.

     

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