Broadly speaking, virtually all redevelopment in New Jersey falls under the umbrella of a Public Private Partnership (PPP, or P3), which is an agreement between a public entity and a private entity to jointly undertake a project. The primary legal framework for PPPs in New Jersey is the state’s Local Redevelopment and Housing Law and a specific Public-Private Partnership Law, which applies to projects of or for the benefit of the public entity, including revenue-generating facilities like buildings, roads, and infrastructure. The private entity typically takes on the financial and administrative burden, potentially including financing, construction, operation, and maintenance of the project, while the public entity retains ownership of the land upon which the project is located. In some instances, PPP projects involve a lease-back arrangement where the private entity finances and builds a facility and then leases it back to the public entity for a period of time.
The Greenbaum team has long been at the forefront of redevelopment projects involving PPPs in New Jersey, leveraging our deep expertise in redevelopment, finance, and government to structure, negotiate, and execute PPPs that benefit all stakeholders. We provide comprehensive counsel to private developers, investors and governmental entities including municipalities, counties, school districts and educational institutions in the formation of PPPs. With an understanding of PPPs from both the public and private sides, we have a proven track record of representing municipalities, redevelopment agencies, and other public bodies, as well as the private developers, investors, and businesses that partner with them. This dual perspective allows us to anticipate challenges, negotiate equitable agreements, and ensure project success from initial concept through final delivery.
We provide both private and public entities with the legal guidance necessary to manage their interests and responsibilities in a PPP, guiding them through the legal requirements of the procurement process, including the preparation of, or responses to, Requests for Qualifications (RFQs) and Requests for Proposals (RFPs). We draft and negotiate comprehensive Redevelopment Agreements, financial agreements for long-term tax abatements (PILOTs), and land disposition agreements, project labor agreements, and public-private lease and leaseback agreements, ensuring compliance with all statutory requirements including prevailing wage laws and public hearings.
Whether we’re representing a public entity seeking to revitalize their local community, or counseling a private developer undertaking a transformative project, our team has demonstrated expertise and the experience to forge successful PPPs in New Jersey.
- Redevelopment, Land Use & Zoning
- Affordable Housing
- Condemnation & Eminent Domain
- Environmental Issues in Real Estate Transactions & Redevelopment
- Land Use Approvals
- Parking Demand & Other Special Considerations
- Project Siting & Property Acquisition
- Redevelopment Plans & Agreements
- Special Improvement Districts