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Builders and municipal groups push back as committee advances disclosure bill for construction financing
Summary
A substitute of Senate Bill 34 81 that would require construction project applicants to disclose project financing drew sharp opposition from builders, developers and the League of Municipalities, who warned of OPRA exposure, added municipal burdens and litigation risk; the committee amended and released the bill.
Senate Bill 34 81, amended in committee, would require construction project applicants to disclose financing documents for certain projects and defines terms to exempt single-family homes and routine renovations.
The bill prompted sustained opposition from trade and developer groups. Paul Pennell of the New Jersey League of Municipalities said the League shares the bill’s goals…
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