You call this a fast-track recovery?

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Savage economy needs a monster solution                                                                                                                                                                             ®

FoR develoPeRs who have feared the long,                   cial builders will be temporarily suspended. And         been taking away from developers for far too long.
sticky tentacles of government, there is a monster         eligibility for the Urban Transit hub Tax Credit               in a recession like the one currently gripping                 July 6, 2009
now on the scene that they can embrace.                    program will be expanded, addressing quibbles            new Jersey and the nation, our lawmakers must
     The economic stimulus Act of 2009, dubbed             from builders who previously didn’t qualify for the      do all they can to encourage further investment             How to Reach Us
a “monster economic stimulus bill” by state sen.           lucrative incentive.                                     by businesses, growth in development and the           Mailing address
                                                                                                                                                                           njbiz, 220 Davidson Ave, Suite 302
Raymond Lesniak (d-Union), is being applauded                    developing around train and bus stations           creation of more jobs.                                 Somerset, NJ 08873
by builders and business advocates (See story              makes sense from land-use and economic per-                    A scary recession calls for solutions of mon-    Phone (732) 246-7677
on Page 1). Both houses of the legislature have            spectives. expanding the Urban Transit hub Tax           ster proportions. u                                    Fax: editorial (732) 249-8886
passed the bill, and it now awaits gov. Jon S. Cor-        Credit program to further the goal of smart devel-                                                              Fax: advertising (732) 249-8952
                                                                                                                                                                           Fax: oPerations (732) 846-0421
zine’s signature.                                          opment makes even more sense.                                Our        Point          of    View               subscriPtions (866) 288-7699
     The measure provides developer incentives                   environmentalists criticize the legislation,                                                              rePrints For article reprints, please
funded with tax receipts from actual develop-              calling it a “giveaway to developers.” But the real                       What do you think?                    contact our reprint coordinator at
                                                                                                                               Tell us at             Wright’s Reprints: 1-877-652-5295.
ment. Also, affordable-housing fees on commer-             estate industry would likely reply that the state has                                                           For photos, please see

                                                                                                                                                                           thomas F. curtin
              NJBIZ           Poll          Results
                                                                         You call this a fast-track recovery?                                                              ADVERTIsINg
                                                                                                                                                                           DiReCTOR OF SAleS
                                                                         ThaT seems To be the attitude among responders to the latest NJBIZ poll, who                      Mark cialdella
            The fast-approaching deadlines                               indicate that, if anything, the approvals process and stimulus need to be even faster             SeNiOR ACCOuNT exeCuTive
                                                                         if the program is to have any effect on the economy.                                              Penelope spencer
                 for stimulus projects:                                                                                                                                    ACCOuNT exeCuTiveS
                                                                               “Less red tape, less expensive, faster things get done,” summarized Ron Henry,              susan alexander
               Are helping create jobs faster,                           of Wilentz, Goldman & Spitzer, P.A.                                                               sue jaffe
                                                                                                                                                                           lucille lo sapio
               in line with federal goals                                      of the 214 responders, 33 percent said faster project deadlines don’t allow for             joe Malone
                                                                         any kind of government oversight. The remainder felt the speedier timelines were                  Merry solomon
                                                                         a good thing, with the majority of voters saying they’d rather see all projects — not
                           26%                                           just work being pushed by the stimulus — operate on deadlines like this.
                                                                               Responder Donna DiDomenico, of Developmental Specialists, said the faster                   sharon Waters
               Should be the norm for all projects,                      shovels get in the ground, the faster the economy will turn around.                               DePuTY eDiTOR - NeWS
               to eliminate drawn-out delays                                   “It is necessary for the government to respond quickly, and hold those receiv-
                                                                                                                                                                           joe st. arney
                                                                                                                                                                           DePuTY eDiTOR & RePORTeR
                                                                         ing funds or support accountable for positive fund usage and direction,” she wrote.               beth Fitzgerald

                                   41%                                         For the naysayers, wrote reader Bruce Davidson, of the Lutheran office of Govern-           Workplace issues/General News
                                                                                                                                                                           COPY eDiTOR
                                                                         mental ministry, speed and accountability can go hand-in-hand. “It is possible to respond         Meghan shapiro
               Don’t allow for any kind of                               to need quickly and efficiently, and government needs to know how to do this,” he said.           STAFF WRiTeRS
               government oversight                       
Description: For the naysayers, wrote reader Bruce Davidson, of the Lutheran Office of Governmental Ministry, speed and accountability can go hand-in-hand. Transparency and accountability can be built into this process In this age of electronic technology, so that delays and fraud are minimized. [...] Don McDermott, of DG McDermott Associates LLC, said the urgency for a faster process transcends the stimulus dollars.
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