law

Murphy Partners Welcomes Ivana Vranjes Field as Executive Assistant

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Murphy Partners LLP is pleased to announce that Ivana Vranjes Field will be joining the firm as Executive Assistant. In this role, Ivana will support the firm in various functions, including assisting the firm’s transactional and litigation attorneys in ongoing matters, and working directly with the firm’s managing partner on all administrative matters. Prior to starting with the firm, Ivana worked in multiple customer-facing roles, and actively pursued her interests in film and photography, which she continues to pursue in her free time. 

Ivana received her undergraduate degree in Interpersonal Communication and Public Relations from The College of New Jersey. She lives with her husband Sean in Eatontown, New Jersey. 

MURPHY PARTNERS LLP

Murphy Partners is a boutique law firm specializing in commercial real estate and development matters. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter. 


MURPHY PARTNERS ADDS PROPERTY TAX APPEAL AND LITIGATION GROUPS WITH ADDITION OF NEW PARTNER

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NEWARK, NJ, January 14, 2019 — Murphy Partners LLP is pleased to announce that Thomas S. Dolan will be joining the firm as a partner and will lead the firm’s Property Tax Appeal and Litigation practice groups.

Tom has a wealth of experience advising taxpayers and governmental entities on complex real property tax issues and has litigated the value of virtually all property types, including office buildings, retail stores, shopping centers, apartment buildings, industrial facilities, hotels, and unique special purpose properties. He also has extensive experience litigating complex commercial matters in state and federal courts, including class actions, franchise litigation, state tax controversies, commercial contracts, and real estate disputes.

Additionally, Tom has considerable expertise advising non-profit organizations on obtaining and litigating real estate tax exemptions, including arguing before the Supreme Court of New Jersey, where he successfully represented a group of national and local mental health organizations in preserving property tax exemptions for housing for residents with developmental disabilities.

As a valued advisor on Long Term Tax Exemptions and Payment In Lieu of Tax (PILOT) agreements, Tom will represent both redevelopers and municipalities through all aspects of the PILOT approval process, from obtaining the proper redevelopment area designation to negotiating and finalizing the terms of the tax agreement.

Prior to joining the firm, Tom was a commercial litigator at the prominent national law firm Lowenstein Sandler LLP, where he litigated a wide array of complex commercial matters in state and federal courts across the country. Tom later worked at Skoloff & Wolfe, PC, where he represented taxpayers and municipalities in property tax litigation and advice.

Tom received his law degree from Rutgers School of Law, and his undergraduate degree, summa cum laude, from Rutgers University.

“We are incredibly excited to have Tom join our growing team. He is a seasoned attorney, with significant experience handling complex real property tax and commercial litigation matters and will prove to be a valuable asset to our existing and future clients. His experience will be instrumental in our continued commitment to providing clients with effective legal solutions,” says Kellen F. Murphy, the firm’s managing partner.  

“I am privileged to be joining the talented group of attorneys at Murphy Partners. In a short time, they have distinguished themselves as leaders in the areas of real estate and redevelopment. I am looking forward to contributing to the firm’s continued excellence and its growth in the areas of commercial litigation and real property taxation,” says Thomas S. Dolan.

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.

New Jersey Incentive Update - November 2018

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This morning, the New Jersey Economic Development Authority (NJEDA) will hold its monthly board meeting. Among the actions to be taken, the Board will adopt new rules for the Film & Digital Media Tax Credit Program, and consider three applications under the Grow New Jersey Assistance Program (Grow NJ).

Created by legislation passed earlier this year, the Film & Digital Media Tax Credit Program will allow for taxpayers (in most cases, production companies) to seek a tax credit for qualified film production and digital media content production expenses. Applications will be approved by the New Jersey Economic Development Authority (NJEDA) and the Director of the Division of Taxation in the Department of the Treasury. Approved applicants are entitled to claim a credit against CBT or GIT liability in an amount equal to 30 percent (35 percent in limited cases) of the qualified film production expenses or 20 percent (25 percent in limited cases) of the qualified digital media content production expenses.

Created under the Economic Opportunity Act of 2013, the Grow New Jersey Assistance Program (Grow NJ) is the State’s main job creation and retention incentive program. Under the Grow NJ program, businesses creating or retaining jobs in the State may be eligible for tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year (awards vary based on applicable criteria).

The Grow NJ program has been wildly popular and incredibly successful. Since its implementation, 250 projects have received awards, totaling over $4.7 billion in tax credits. Approved applicants generally have three years to certify, or complete, a project. A project is deemed complete when the applicant has hired or retained the number of employees listed in its application, and satisfied the program’s capital investment requirements. Once certified, the 250 projects will drive over $4.5 billion in private capital investment, create over 32,000 new jobs, and retain over 35,000 jobs at risk of leaving the State.

If interested in learning more about these programs, please do not hesitate to contact Chris Murphy at (973) 877-6984 or cmurphy@murphyllp.com.  

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.


New Jersey Incentive Update - October 2018

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On Thursday, October 11, 2018, the New Jersey Economic Development Authority (NJEDA) will hold its monthly board meeting. Among the actions to be taken, the Board will consider two applications under the Grow New Jersey Assistance Program (Grow NJ). If approved, the two applicants could receive over $8,600,000 in tax credits (over 10 years).

Created under the Economic Opportunity Act of 2013, the Grow New Jersey Assistance Program (Grow NJ) is the State’s main job creation and retention incentive program. Under the Grow NJ program, businesses creating or retaining jobs in the State may be eligible for tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year (awards vary based on applicable criteria).

The Grow NJ program has been wildly popular and incredibly successful. Since its implementation, 250 projects have received awards, totaling over $4.7 billion in tax credits. Approved applicants generally have three years to certify, or complete, a project. A project is deemed complete when the applicant has hired or retained the number of employees listed in its application, and satisfied the program’s capital investment requirements. Once certified, the 250 projects will drive over $4.5 billion in private capital investment, create over 32,000 new jobs, and retain over 35,000 jobs at risk of leaving the State.

If interested in learning more about Grow NJ or other economic development incentive programs, please do not hesitate to contact Chris Murphy at (973) 877-6984 or cmurphy@murphyllp.com.  

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.


Incentive Alert: Governor Murphy Proposes New Incentive Programs

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On Monday, Governor Murphy outlined his plan for revamping New Jersey’s main incentive programs, including the Grow New Jersey Assistance Program (Grow NJ) and the Economic Redevelopment and Growth (ERG) Program, which are set to expire in July of 2019. While the creation of any new program will require new legislation, this is the first step in a process that will likely result in new incentive programs for businesses and developers.

The NJ Forward Tax Credit Program (NJ Forward) will likely take the place of Grow NJ as the State’s main job attraction incentive program. As proposed, NJ Forward will focus primarily on high-wage, high-growth sectors, including life sciences, information and high tech, clean energy, advanced manufacturing, advanced transportation and logistics, finance and insurance, and food and beverage. While the report does not outline specific programmatic details, it states that the proposed program will:

  • Increase focus on global/U.S. headquarters, R&D activities, and foreign direct investments

  • Prioritize new job creation rather than retained jobs

  • Encourage job creation in urban centers and other distressed communities, particularly those with public transit assets

  • Include an annual award cap and review to ensure fiscal sustainability and transparency

  • Feature lower base per-job credit amounts more in line with neighboring states, as well as more focused bonuses that ensure the administration’s policy goals

  • Limit transfers of credits to ensure that job-creating companies reap the primary benefits of taxpayer investment

  • Reward companies that invest in employee skill development and training

The NJ Aspire Tax Credit Program (NJ Aspire) will likely take the place of ERG as the State’s main incentive for developers. The administration is proposing the creation of a new place-based gap financing tool to help catalyze investments in commercial, residential, and mixed-use (including parking) projects, with a particular focus on cities, downtowns, and suburban neighborhoods served by mass transit. As proposed, the program will facilitate the conversion of surface parking lots, vacant and/or abandoned lots, and other underutilized properties into job and tax-generating development opportunities. The program will also assist in the development of market-rate housing in distressed communities and, where appropriate, mixed-income and affordable housing near transit in suburban communities. NJ Aspire will be structured as a competitive tax credit grant, giving the NJEDA discretion in awarding grants to the most impactful and development-ready project.

In addition to NJ Forward and NJ Aspire, the report also calls for the creation of a new remediation and development tax credit program and a dedicated NJEDA loan fund to support brownfield redevelopment, the creation of a state historic preservation tax credit program, and multiple programs aimed at encouraging venture capital investment in high-growth, high-wage sectors.

If interested in learning more about these or other economic development incentive programs, please do not hesitate to contact Chris Murphy at Murphy Partners LLP at (973) 723-7036 or cmurphy@murphyllp.com.

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.


Murphy Partners LLP Continues to Expand with Addition of New Partner

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Murphy Partners LLP is pleased to announce that John P. McDonough will be joining the firm as a partner in the firm’s Commercial Real Estate Group.

John is an experienced transactional real estate attorney. As a partner in the firm, John’s practice will focus on all aspects of commercial real estate transactions, including office and retail leasing, acquisitions, dispositions, and real estate finance, including restructuring and workouts. He will also advise clients in connection with business transactions, construction law, and other commercial matters.

Prior to joining the firm, John spent nearly a decade as an attorney at the Port Authority of New York and New Jersey, where he represented the bi-state agency in a diverse array of real estate, construction, and development matters. He also served as bond counsel for the agency and worked extensively on the development of the World Trade Center and Transit Hub.

Following his time at the Port Authority of New York and New Jersey, John served as Assistant Corporation Counsel for the City of Jersey City, where he regularly advised the City on commercial real estate and development matters.

“We are incredibly excited to have John join our growing team. He is a seasoned attorney, with experience handling complex commercial real estate transactions in both New Jersey and New York. His experience will be instrumental in our continued commitment to providing clients with effective legal solutions,” says Kellen F. Murphy, the firm’s managing partner.

“I’m thrilled to be joining the dynamic team at Murphy Partners and look forward to contributing to the firm’s future growth and success as a leader in the New Jersey and New York real estate legal market,” says John P. McDonough.

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.

Incentive Alert: Governor Murphy Signs the ERG Bond Financing Act

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On August 17, 2018, Governor Phil Murphy signed into law the Economic Redevelopment and Growth Grant Bond Financing Act (P.L. 2018, c. 97), which creates a mechanism to finance projects under the Economic Redevelopment and Growth (ERG) Program.

Created under the Economic Opportunity Act of 2013, the ERG program is the State’s primary incentive for developers. Pursuant to the program rules, a developer that can demonstrate that its redevelopment project requires a subsidy to close a project financing gap may apply for a grant equaling no more than 20% of the total cost of a project (30% in a Garden State Growth Zone), of which the developer must make a 20% equity investment.

In accordance with a redevelopment incentive grant agreement, beginning upon the receipt of occupancy permits for any portion of the redevelopment project, the developer will receive incremental State revenues directly realized from businesses operating on or at the site of the redevelopment project. The developer may apply for an incentive grant in the amount up to 75% of the annual incremental tax revenues generated by the project over a 20 year period. If the redevelopment project is located within a Garden State Growth Zone, 85% of the projected annual incremental revenues may be pledged toward the award.

Prior to the enactment of the ERG Bond Financing Act, developers receiving awards under the ERG program were required to seek financing for up-front costs associated with the project, as the ERG payments were unavailable until the project had been fully completed and certified. The ERG Bond Financing Act creates a mechanism for developers to monetize an ERG award by allowing the municipality in which a project is located to (either directly or through an application to the New Jersey Economic Development Authority or similar public instrumentality of the State) issue bonds secured by a pledge of the ERG grant payments, and further secured by municipal liens and/or special assessments on the property benefiting from the improvements. This will allow developers to finance the up-front costs associated with construction, without having to seek gap financing.

If interested in learning more about state and local development incentives, please do not hesitate to contact Murphy Partners LLP at (973) 723-7036 or info@murphyllp.com.  

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.

New Jersey Incentive Update - June 2018

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On Tuesday, June 12, 2018, the New Jersey Economic Development Authority (NJEDA) will hold its monthly board meeting. Among the actions to be taken, the Board will consider two applications under the Grow New Jersey Assistance Program (Grow NJ). If approved, the two applicants could receive over $60,000,000 in tax credits (over 10 years).

Created under the Economic Opportunity Act of 2013, the Grow New Jersey Assistance Program (Grow NJ) is the State’s main job creation and retention incentive program. Under the Grow NJ program, businesses creating or retaining jobs in the State may be eligible for tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year (awards vary based on applicable criteria).

The Grow NJ program has been wildly popular and incredibly successful. Since its implementation, 252 projects have received awards, totaling over $4.7 billion in tax credits. Approved applicants generally have three years to certify, or complete, a project. A project is deemed complete when the applicant has hired or retained the number of employees listed in its application, and satisfied the program’s capital investment requirements. Once certified, the 252 projects will drive over $4.5 billion in private capital investment, create over 30,000 new jobs, and retain over 36,000 jobs at risk of leaving the State.

If interested in learning more about Grow NJ or other economic development incentive programs, please do not hesitate to contact Murphy Partners LLP at (973) 877-6984 or info@murphyllp.com. 

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. With offices in Newark, New Jersey and New York City, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.

Roosevelt J. Donat Appointed as Trustee of the IOLTA Fund

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Murphy Partners LLP is proud to announce that Roosevelt J. Donat, special counsel, has been appointed as a Trustee of the IOLTA Fund.

The IOLTA Fund of the Bar of New Jersey was established by the NJ Supreme Court and provides funding for legal assistance to the disadvantaged in civil matters. Since 1989, the IOLTA Fund has awarded grants of over 415 million to Legal Services of New Jersey, the New Jersey State Bar Foundation and 136 other non-profit, 501(c) 3 organizations. The grants provide funding for free legal services to low-income people with civil legal problems, improvement in the administration of justice and education about the law.

For more information on the IOLTA Fund, please visit www.ioltanj.org.

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate, development, and economic incentive advisory. Headquartered in Newark, New Jersey, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.

 

Murphy Partners LLP Adds Two Attorneys to Real Estate Practice Group

Murphy Partners LLP is pleased to announce the addition of Pamela Hoff and Ryan S. Curran to the firm’s growing Real Estate Practice Group.

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Pamela Hoff, counsel, is a seasoned real estate attorney with over 30 years of experience. Her practice focuses on representing buyers and sellers of commercial and residential real estate. She regularly assists individuals, real estate investors, and commercial entities through the contracting, due diligence, financing, and closing stages of real estate transactions. Prior to joining Murphy Partners LLP, Pamela was a supervising attorney at a large regional law firm, where she was responsible for all commercial and residential real estate closings in both New Jersey and New York.

“Pam is an integral part of our growing team. Her ability to work through complex issues in an effective and time-sensitive manner will be a benefit to our current and future clients,” says Kellen F. Murphy, the firm’s managing partner.

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Ryan S. Curran, counsel, has extensive experience in the fields of real estate finance, tax credits, and business advisory. He regularly advises and assists clients from a wide range of industries on numerous aspects of their businesses, with a particular focus on clients in the real estate, hospitality, construction, and professional services industries. In addition to being a practicing attorney, Ryan is a Certified Public Accountant (CPA) in New York and New Jersey.

“Ryan has been a friend and a strategic partner of the firm since our launch. We look forward to Ryan playing an active role in helping to grow the firm in the coming years,” says Chris J. Murphy, a partner in the firm.

If interested in learning more about Murphy Partners LLP, please don’t hesitate to contact us at (973) 877-6984 or info@murphyllp.com.

MURPHY PARTNERS LLP

Murphy Partners LLP is a boutique law firm specializing in real estate and economic incentive advisory. Headquartered in Newark, New Jersey, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.