The New Jersey legislature is getting serious about electric vehicles. On November 6, 2019, it passed S-606 (formerly A-1371) encouraging municipalities to begin planning for expanded electric vehicle ("EV") infrastructure across the state.
The unauthorized use of “dirty dirt” as fill in sites across New Jersey has long been an issue facing municipalities. In October 2019, DEP launched the "Guard Your Backyard" initiative specifically aimed at curbing the dumping of tainted fill in New Jersey communities.
In a prior blog post we examined recent changes to New Jersey Site Remediation Reform Act ("SRRA") stemming from the passage of Assembly Bill A-5293. This new law, colloquially known as "SRRA 2.0," makes a few important changes to New Jersey's site remediation laws that may impact clients involved in purchase-and-sale or other property transfer transactions.
In May of 2009, Governor John Corzine signed the Site Remediation Reform Act ("SRRA") into law, enacting sweeping changes to New Jersey's site remediation program. The Act created the Licensed Site Remediation Professionals ("LSRP") Program and imposed strict reporting requirements and an affirmative obligation to remediate contaminated sites.
In Parts 1 and 2 of this series, we discussed the circumstances that led to the planned phase-out of the London Inter-bank Offered Rate, commonly referred to as “LIBOR” and the proposed replacement rate known as the Secured Overnight Financing Rate (“SOFR”). In this last part of the series, we will present the proposed language recommended by the Alternative Reference Rate Committee (“ARRC”) to be used in new contracts that reference LIBOR.
Communities in New Jersey have long been in need of a means to help mitigate the effects of stormwater runoff.
On April 9, 2019, the New Jersey Economic Development Authority (NJEDA) authorized the creation of a revised Brownfields Loan Program (the "Program") to provide low-interest financing to borrowers in an effort to facilitate remediation of vacant or underdeveloped brownfields sites and return such sites to full and productive use, particularly in the under-served communities within the State. The Program is an expansion of the NJEDA's existing Brownfields Loan Program.
Aging infrastructure, rising sea levels, polluted stormwater runoff, and the impact of more intense weather events have created an urgent need for New Jersey to address its stormwater infrastructure.
On July 13, 2016, the New Jersey State Board of Education adopted regulations as to testing for the presence of lead in drinking water. These regulations have been long-awaited since Governor Christie first announced in May that such testing would be mandatory for all school districts in the State.
There still appears to be some confusion as to whether environmental due diligence for the acquisition of New Jersey commercial or industrial property requires conducting a Phase I Environmental Site Assessment, a Preliminary Assessment, or both.