57 / 88
57
S E P T E M B E R , 2 0 1 7
problem of abandoned and blighted
homes. LAC support was essential
to enact legislation which enabled
municipalities to address these issues.
We were aligned with the League to
get the bill passed. Once signed into
law, the CAI-NJ sent letters to every
district in the state with a sample ordi-
nance to implement and enforce the
new legislation. My Association fol-
lowed up with our township to ensure
we were protected by the law. Many
other CAI-NJ members spoke with
local officials to encourage enacting
the local ordinances.
Every municipality should be con-
cerned with ‘zombie’ mortgages. LAC
is strongly backing “expedited fore-
closure” reform legislation (S1832 /
A3823). This legislation will improve
neighborhoods by requiring lenders
to either expedite their foreclosure
actions on vacant properties within
CICs or choose between paying
the association maintenance fees or
consenting to the appointment of a
fiscal receiver to rent the properties
during the pendency of the foreclosure
actions. The legislation will improve
the standard of living in all neigh-
borhoods, and we hope you get the
support of your mayor and have them
ask that the League support it as well.
Municipalities should be very sup-
portive of another bill CAI-NJ was
successful in getting passed. A2060
passed both houses in late June and
awaits the Governor’s signature. It will
require lenders to consider all short
sale offers within sixty days, thereby
speeding up the lengthy foreclosure
process in the state. Lenders have not
been responding in a timely period to
legitimate offers, causing properties to
remain vacant for longer periods than
desired. Municipal elected officials
and CIC members have a mutual
interest in eliminating foreclosed prop-
erties and should join forces with us in
our efforts. We need to remind those
officials that we fought for this bill and
to support us in these kinds of fights.
The LAC strongly opposes A1425
which would change municipal per-
formance bonding requirements. If
enacted, it would have significant
adverse impacts on CICs and munic-
ipalities trying to protect residential
developments. As written, municipal-
ities would only be able to require
developers to post performance guar-
antees that cover improvements being
dedicated to a public entity. Private
streets, storm drainage ponds and
basins, common grounds, to name a
few, would not be covered by munic-
ipal performance and maintenance
bonds. Municipalities should be very
concerned with this bill, which is
strongly supported by the commercial
real estate and builders’ lobbies. CAI-
NJ members should encourage local
elected officials to ask the League to
join CAI-NJ in opposing the bill.
The LAC also is actively fighting
against A3656 which would prohibit
CONT I NU E S ON PAGE 58
"Municipalities should
be very supportive of
another bill CAI‑NJ
was successful in
getting passed."
© iStockphoto.com