Biggins Lacy Shapiro & Co. LLC, the Princeton-based site selection and advisory firm, has hired a new senior manager focused on compliance for recipients of government tax incentives.
Government & Public Policy
From zoning disputes to the federal tax code, public policy affects the commercial real estate sector far more than you may realize. For industry leaders, government and politics demand constant attention.
Conditions on PILOT agreements: What developers, municipalities need to consider
As the Long Term Tax Exemption Law has become more widely used, local and state legislatures have increasingly sought to impose additional conditions on developers for receiving payment in lieu of taxes agreements, or PILOTs. But it is important for municipalities and developers to remember that these conditions are not without limit.
Third-party inspectors would solve shrinkage of public employees
As of this writing, legislation to facilitate the timely review and inspection of construction activities, which have been on the rebound now that the worst of the pandemic is behind us, is awaiting Gov. Phil Murphy’s signature. We need the third-party option because the number of public-sector inspectors has substantially diminished over the last 10 years and will continue to do so.
