TRENTON, NJ — Senator Benjie Wimberly, Assemblyman Kenyatta Stewart, and Assemblyman Al Abdelaziz (all D-Bergen, Passaic) introduced legislation that would extend the deadline under New Jersey’s Economic Redevelopment and Growth Grant Program to ensure municipalities and developers have additional time to complete residential and mixed-use parking projects. The bill, A4525/S3116, extends the deadline for eligible projects to obtain a temporary certificate of occupancy from June 30, 2028 to June 30, 2032.

“Investments in infrastructure are investments in people,” said Senator Wimberly. “By extending this deadline, we are giving municipalities the flexibility they need to complete projects that can create jobs, support businesses, and improve the daily lives of residents.”

The legislation is much needed for urban communities like Paterson, where a shortage of parking has created challenges for both residents and visitors.

“Parking is one of the biggest quality-of-life and economic development issues facing Paterson,” said Assemblyman Stewart. “For years, residents, business owners, and visitors have struggled with a lack of available parking. This bill helps preserve a critical funding opportunity that can support projects designed to address that challenge while strengthening our downtown and commercial corridors.”

The extension would allow eligible municipalities and redevelopment partners additional time to advance major projects that require extensive planning, financing, and coordination. Without the extension, projects that have already received support could risk losing access to incentives such as grants and tax credits before construction timelines can reasonably be met. This bill does NOT pertain to tax abatements, pilot programs, and the Garden State Economic Growth zones.

“Large-scale redevelopment projects do not happen overnight,” said Assemblyman Abdelaziz. “This legislation recognizes the realities of project development and ensures communities are not penalized because of delays beyond their control. We want cities like Paterson to have every opportunity to pursue investments that improve infrastructure, attract new development, and create a more vibrant local economy.”

"The Paterson Parking Authority recognizes the need for safe, reliable and convenient parking, especially in our downtown corridor. We appreciate the support of our Legislative team, Senator Benjie Wimberly, Assemblymen Kenyatta Stewart and Al Abdelaziz as well as the support from the Mayor and Council. The rebuilding of the Ward St garage will be a huge step closer to revitalizing the heart of our city. We look forward to having those spaces back and available for our residents, merchants and business folks alike," said Tony Perez, Executive Director of Paterson Parking Authority.

The bill passed the full Assembly last week. It has now been referred to the Senate Budget and Appropriations Committee.