On September 19, Gov. Chris Christie signed Bill A1338 to amend
the Permit Extension Act of 2008 (the PEA).
The process of obtaining land development approvals and permits
can be difficult, time-consuming and expensive. Because of this,
these approvals typically afford a protection period to allow a
developer time to secure financing and complete a project without
the fear of changes to governmental regulations or repeated
application processes. Unfortunately, as a result of the national
recession, in recent years projects have taken longer to complete,
because of financing and marketability issues.
Thus, the New Jersey Legislature initially enacted the PEA in 2008
"to prevent the wholesale abandonment of approved projects and
activities due to the present unfavorable economic conditions, by
tolling the term of these approvals for a period of time, thereby
preventing a waste of public and private resources."
N.J.S.A. 40:55D-136.2(m). The PEA extended the life
