Diegnan Bill Allowing Municipalities To Authorize Parking Authorities As Redevelopment Entity Now Law

fbf99183a4a84f1720fa_Patrick_-_9432.jpg
fbf99183a4a84f1720fa_Patrick_-_9432.jpg

SOUTH PLAINFIELD, NJ – Legislation sponsored by Senator Patrick Diegnan to allow municipalities to authorize a parking authority as a redevelopment entity is now law.

“We know that smart redevelopment can help to revitalize areas within a town or city, but we have to make sure that municipalities have the flexibility to undertake projects in the most effective way,” said Senator Diegnan (D-Middlesex). “This will allow towns and cities to designate a parking authority as a redevelopment entity, allowing these agencies to use their expertise to facilitate improvement projects within the municipality.”

Highland Park Council President Phil George, who brought the initiative to the Senator, said that "in today's state and local economy, we need to look at the local end of redevelopment in relation to revenue streams. Since Parking Authorities are one of the few on-going local sources of revenue, this law would allow us to participate in revenue generation as well as overall planning, particularly in redeveloping and re-purposing our downtown areas."

Sign Up for E-News

 The law (S2226) will allow a municipality that has created a parking authority under the “Parking Authority Law” and that has also been designated as an area within the municipality to be in need of redevelopment or rehabilitation under the “Local Redevelopment and Housing Law,” to authorize its parking authority as a redevelopment entity.

Redevelopment in any municipality is a process to rebuild or restore an area that is in a measurable state of decline, disinvestment, or abandonment. If used correctly, redevelopment can transform a distressed area into an economically viable and productive part of the community.  Under state law, a municipality must implement redevelopment plans and carry out

those redevelopment projects directly through a municipal redevelopment agency, a municipal housing authority, or a county improvement authority authorized to undertake redevelopment projects.  Many municipalities, especially smaller ones, lack the number of agencies that could undertake such projects. This new law will expand the ability for municipalities to use their parking authority as a vehicle for redevelopment.

The bill was approved in the Senate by a vote of 33-2. The Assembly approved it 66-8-1. The governor signed the bill on January 8, 2018.

Senator Patrick J. Diegnan, Jr.  

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Edison

Upcoming Events

Sat, July 21, 10:00 AM

NJ Convention and Exposition Center, Edison

82nd Annual Garden State Cat Show & Expo

Giving Back Other

Wed, July 25, 7:00 PM

Washington Park, Dunellen

Free Music in the Park | Princesa - Pop / Latin

Arts & Entertainment

Wed, August 1, 7:00 PM

Washington Park, Dunellen

Free Music in the Park | Rockabilly Roadhouse

Arts & Entertainment

Nearly $900K Bid Received for Construction of New New Brunswick Park

July 12, 2018

NEW BRUNSWICK, NJ - Only one company submitted a bid to build a new city park on land where three abandoned houses once stood.

A-Tech Concrete of Edison submitted a bid of $897,316.25 to construct a park on Welton Street, near Drift Street.

This was the only bid that city Purchasing Department received before the deadline this morning.

New Brunswick demolished three abandoned home on the ...

Rutgers Hikes Tuition, Student Fees for 2018-2019 Academic Year

July 18, 2018

NEW BRUNSWICK, NJ - Rutgers University Board of Governors today approved a 2.3 percent hike in tuition and fees, as well as increases for dorm rooms and meals, for the 2018-2019 academic year.

The increase now brings the annual cost for undergraduate students to $14,975, which is $337 more than this past school year.

Student housing will increase 1.9 percent, and ...

YMCA of Metuchen, Edison, Woodbridge & South Amboy Receives Summer Camp Scholarship Funds from Macy’s

July 18, 2018

It is with great excitement the YMCA of Metuchen, Edison, Woodbridge and South Amboy announces the receipt of camp scholarship funds from Macy’s that will send children to camp this summer. From May 1-22, 2018, Macy’s customers were able to “Make Good Cents” and round up their in-store purchases to the nearest dollar and donate their change to help send local kids to ...

Crowdfunding Options for Entrepreneurs and Small Businesses

Source: Many small start-up businesses and tech ventures in search of capital turn to popular online platforms for crowd fundraising of financial resources to get their concept off the ground and launched into market. Indiegogo, Kickstarter, and GoFundMe, to name a few, offer solutions in generating cash to fund new ideas. How do you get people to contribute to your cause?  Sam Burlum ...