AvalonBay Communities v.p.: it's time to focus on regulatory procedures to spur N.J. development. (Insiders Outlook).

With additional studies, heated deliberations and a legal fight expected to push back the next generation of a proposed guide for New Jersey's growth/no growth areas until late 2003 or 2004, attention needs to be refocused on initiatives that would streamline regulatory procedures to help spur development in mutually-accepted regions.

First and foremost, to encourage smart growth in areas conducive to development; a more efficient process must be implemented--one which should extend to speeding up the creation of additional Transit Villages and encourage the use of underutilized tax increment financing programs.

As of today, because of the dramatic reaction throughout the state, there is no definitive BIG Map (the Blueprint for Intelligent Growth Map being championed by Governor James E. McGreevey) in place. It is likely that the BIG Map process will be rolled into the State Development and Redevelopment Plan along with the further use of the cross-acceptance process.

What is not currently debatable, however, is that New Jersey is an extremely expensive place to develop in thanks in large measure to the fact that 20 cents or more on every dollar is spent on regulatory compliance actions. That needs to change.

While the push for redevelopment efforts in areas supported by smart growth proponents is needed, there are concerns over those locations' shortcomings which could make the opportunities less attractive to developers.

We know that the towns have embraced redevelopment efforts and that the redevelopment statue is here to stay, but redeveloping the state's inner cities is only going to work if the infrastructure is in place. If it's not, initiatives and incentives have to be implemented to make that happen.

Everyone agrees that Transit Villages, dense urban communities that are developed around mass transit systems to promote increased pedestrian activity and decreased automobile use, are a great use of land and a model of smart growth. We need to encourage the creation of additional Transit Villages.

This is why Governor McGreevey's recent announcement to create additional Transit Villages must be applauded The state will invest $10 million in the coming fiscal year to strengthen the three-year-old program. The State Department of Transportation (DOT) budgeted $1 million for Transit Villages in the current fiscal year. Increased incentives will include revenue bond financing programs, mortgage breaks for homeowners and tax increment financing.

What's more, tax increment financing or. "TIP" financing must be utilized more. It's a great tool that should be pursued. Tax increment financing provides an income stream from taxes generated from a property that wouldn't exist if the property was not developed or redeveloped That money could then be allocated for improvements to the development aid for related infrastructure and community improvements.