Title 40A, Title 40A: MUNICIPALITIES AND COUNTIES

40A:20-12.1. Nonapplicability of certain annual service charges 3. The provisions of section 12 of P.L.1991, c.431 (C.40A:20-12) requiring staged increases in annual service charges over the term of the financial agreement and establishing a minimum annual service charge shall no…

40A:20-13 Termination of tax exemption. 13. The tax exemption provided in P.L.1991, c.431 (C.40A:20-1 et seq.) shall apply only so long as the urban renewal entity and its project remain subject to the provisions of P.L.1991, c.431 (C.40A:20-1 et seq.), but in no event more than:…

40A:20-13.1. Tax exemption 4. The provisions of sections 12 and 13 of P.L.1991, c.431 (C.40A:20-12 and C.40A:20-13) to the contrary notwithstanding, a qualified subsidized housing project may be exempted from taxation for such period of time as the federal agency subsidizing the …

40A:20-13.2 Certain tax exemptions may be continued. 1. Notwithstanding the provisions of sections 12 and 13 of P.L.1991, c.431 (C.40A:20-12 and C.40A:20-13) to the contrary, the governing body of a municipality may agree to continue a tax exemption for a State or federally subsi…

40A:20-14. Conveyed condominium units, tax exemption, conditions 14. If the financial agreement permits the conveyance of condominium units pursuant to subsection b. of section 10 of this act, the provisions of this section shall apply. When the urban renewal entity files a maste…

40A:20-15 Excess profits of a limited dividend entity. 15. An urban renewal entity which is a limited dividend entity under P.L.1991, c.431 (C.40A:20-1 et seq.) shall be subject, during the period of the financial agreement and tax exemption under P.L.1991, c.431 (C.40A:20-1 et s…

40A:20-16. Net profits of a nonprofit entity 16. An urban renewal entity which is a nonprofit entity under this act shall be subject, during the period of the financial agreement and tax exemption under this act, to a requirement that it shall pay over its net profits, if any, to…

40A:20-16.1. Payment of net profits to municipality; condition 5. The provisions of section 16 of P.L.1991, c.431 (C.40A:20-16) to the contrary notwithstanding, a nonprofit corporation that is the sponsor of a qualified subsidized housing project shall not be required to pay over…

40A:20-17. Sale of land to an urban renewal entity 17. The municipality or any redevelopment entity, authority or other instrumentality thereof, is authorized, by resolution, to make any land owned by it available for use for a project by an urban renewal entity, by private sale,…

40A:20-18. Housing project in financial difficulty, financial plan 18. a. If the Local Finance Board has reason to believe that an urban renewal entity which owns a housing project is faced with financial difficulty, the chairman of the Local Finance Board shall summon an appropr…

40A:20-19. Construction of act in place of repealed statutory entities 19. Whenever in any law, the term "urban renewal corporation," "urban renewal association," "nonprofit urban renewal corporation," "limited dividend housing corporation," "limited dividend housing association,…

40A:20-2 Findings, declarations. 2. The Legislature finds that in the past a number of laws have been enacted to provide for the clearance, replanning, development, and redevelopment of blighted areas pursuant to Article VIII, Section III, paragraph 1 of the New Jersey Constituti…

40A:20-20. Rules 21. The Commissioner of Community Affairs and the Local Finance Board shall have the authority to adopt such administrative rules as may be necessary to implement this act. L.1991,c.431,s.21.

40A:20-21 Severability. 14. The provisions of P.L.2003, c.125 (C.40A:12A-4.1 et al.) shall be deemed to be severable, and if any phrase, clause, sentence, word or provision of P.L.2003, c.125 (C.40A:12A-4.1 et al.) is declared to be unconstitutional, invalid or inoperative in who…

40A:20-22 Tax exemptions approved pursuant to C.40A:20-1 et seq. ratified and validated. 15. The terms and conditions of any tax exemption approved pursuant to P.L.1991, c.431 (C.40A:20-1 et seq.) or its predecessor statutes, as the case may be, including any financial agreement,…

40A:20-3 Definitions. 3. As used in P.L.1991, c.431 (C.40A:20-1 et seq.): a. "Gross revenue" means annual gross revenue or gross shelter rent or annual gross rents, as appropriate, and other income, for each urban renewal entity designated pursuant to P.L.1991, c.431 (C.40A:20-1 …

40A:20-4. Municipal agreements for projects under a redevelopment plan 4. The governing body of a municipality which has adopted a redevelopment plan pursuant to the "Local Redevelopment and Housing Law," P.L.1992, c.79 (C.40A:12A-11 et al.) may enter into a financial agreement w…

40A:20-5 Urban renewal entities, qualification; provisions. 5. Any duly formed corporation, partnership, limited partnership, limited partnership association, or other unincorporated entity may qualify as an urban renewal entity under P.L.1991, c.431 (C.40A:20-1 et seq.), if its …

40A:20-5.1. Urban renewal entity; qualification 2. The provisions of section 5 of P.L.1991, c.431 (C.40A:20-5) to the contrary notwithstanding, a nonprofit corporation organized for the purpose of developing, constructing and operating a qualified subsidized housing project may q…

40A:20-6. Necessary powers of urban renewal entities 6. Each urban renewal entity qualifying under this act shall have and may exercise such of the powers conferred by law on the form of entity selected as shall be necessary for the operation of the business of the entity and as …

40A:20-7. Additional powers of urban renewal entities 7. An urban renewal entity shall have the following powers, in addition to those conferred by the law under which the entity is formed: a. To accept loans or grants from federal, State, county or municipal governments, or from…

40A:20-8. Application required, form, contents 8. Every urban renewal entity qualifying under this act, before proceeding with any projects, shall make written application to the municipality for approval thereof. The application shall be in a form, and shall certify to those fac…

40A:20-9 Financial agreement for approved projects, form and contents of contracts. 9. Every approved project shall be evidenced by a financial agreement between the municipality and the urban renewal entity. The agreement shall be prepared by the entity and submitted as a separa…