After 2 years offline, NJ reopens applications for real estate incentives June 1, 2021
2:37 pm
After being shuttered for nearly two years, the New Jersey Economic Development Authority opened applications June 1 for a state incentive for residential developers, under one of a dozen programs meant to lift the state out of the COVID-19 recession.
The program is known formally as the Economic Redevelopment and Growth program, which initially expired in July 2019 amid intense public scrutiny and political fighting over ERG and the Grow New Jersey corporate tax breaks.
But the state Legislature authorized $50 million toward the program under the newly minted “New Jersey Economic Recovery Act of 2020,” which Gov. Phil Murphy signed in January after the bill was fast-tracked to his desk.
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