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Dolores R. Kelley is a Shareholder and member of Stark & Stark’s Business & Corporate, Real Estate, Zoning & Land Use and Beer & Spirits Groups. Ms. Kelley handles a wide range of matters for the real estate industry, including commercial transactions, leasing, condominium and homeowner association formation, and representation of developers and landowners in land use applications. In addition, Ms. Kelley represents clients in the beer, wine, and spirits industries on a variety of issues including corporate formation, financing, licensing leasing, acquisitions, and intellectual property law.

The New Jersey Economic Development Authority (NJEDA) has approved a series of aid packages for small/mid-size businesses in the amount of $75 million, which could grow to $100 million depending on matching grants.

The NJEDA programs focus on businesses that have been hit the hardest by COVID-19. The initiatives include a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and a variety of resources providing technical support.

The NJEDA hopes the initiatives will provide relief to 3,000 and 5,000 small and mid-size businesses in the State. Some of these NJEDA programs will begin accepting applications as early as March 30th. Below you will find each of the NJEDA’s programs, a summary of each program and eligibility requirements.

Continue Reading New Jersey Small Business Economic Development Authority – Small Business Assistance re: COVID-19

As of Friday March 27th, the US Congress has voted to advance the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), that will create an estimated $2 trillion emergency relief package to aid millions of individuals, the public health sector, hard-hit industries, and small businesses effected by COVID-19.

The CARES Act will allocate $350 billion to provide relief to certain businesses through 100% guaranteed Small Business Administration (SBA) loans, a portion of which the SBA would forgive based on the employer meeting certain criteria.

Below you will find a summary of provisions in the proposed legislation applicable to businesses.

Continue Reading What to Know About the CARES Act

While county recording offices are shutting down or limiting access across New Jersey, parties to real estate and loan transactions are wondering the impact the shut downs will have on the transaction. While this is a fluid situation that is changing daily, or even hourly, the facilitators of closings, including attorneys, title companies, and lenders are making every effort to see that transactions are not delayed.

Continue Reading Impact of Coronavirus on Commercial Real Estate Transactions – Remote Notarization and County Recording Office Closures

On May 28, 2019, the Division of Alcoholic Beverage Control (“ABC”) issued a new Special Ruling for New Jersey craft brewery licenses with changes that address concerns raised by the industry. The previous Special Ruling, which was quickly suspended six months ago after strong criticism, is now officially rescinded.

The ABC drafted the new Special Ruling after consulting with some industry leaders and other interested parties. Like the previous ruling, it aims to restrict NJ limited breweries from competing with bars and restaurants who hold licenses allowing full retail privileges. The changes in the new ruling, however, reflect key issues raised by breweries about their ability to promote and build their businesses.

Continue Reading NJ Continues to Restrict Craft Breweries – Limits on Special Events, Food, & More

A new bill in New Jersey was introduced last week which would amend the 2012 law that established microbreweries in the state and governs their operations and restrictions.

This is the first attempt so far to legislatively address the craft brewing industry after a special ruling was issued by the New Jersey Division of Alcoholic Beverage Control (ABC) which implemented restrictions on events and other brewery operations. The ruling was suspended indefinitely only a week later after significant public backlash from both brewers and state government officials.

Continue Reading New NJ Bill Aims to End Craft Brewery Tours & Add Food Vendors

The Brewers Association, the trade association representing small and independent American craft brewers, recently released 2016 data on U.S. craft brewing. Small and independent craft brewers represent 12.3 percent market share by volume of the overall beer industry, with more than 5,300 breweries operating during the year.

In 2016, craft brewers produced 24.6 million barrels. Retail dollar value was estimated at $23.5 billion, representing 21.9 percent market share. By adding 1.4 million barrels, craft brewer growth outpaced the 1.2 million barrels lost from the craft segment due to acquisitions by large brewing companies. Small and independent brewers continue to show steady growth. Microbreweries and brewpubs delivered 90 percent of the craft brewer growth.

Continue Reading Small and Independent Brewers Saw Growth in 2016

A Subordination Non-Disturbance and Attornment Agreement (an “SNDA”) is a document that is typically required by a lender for a landlord. Sometimes the lender will leave off the non-disturbance portion of the agreement, as the lender is only interested in the subordination and attornment. The subordination is the agreement of the tenant to subordinate its

On April 15, 2013, the Farmland Assessment Act of 1964, N.J.S.A. 54:4-23.1 (the “Act”) was amended imposing new requirements for farmland assessment beginning in tax year 2015 The Act provides for property tax exemptions up to 98% for a landowner that uses the property for farming and meets the eligibility requirements of the Act.
Continue Reading Amendment to Farmland Assessment Act Provides for Stricter Eligibility Standards for Farmers

A Shareholder Agreement, sometimes referred to as a Buy-Sell Agreement, can be a helpful tool in the structuring and governance of a closely held corporation. Unlike publicly traded and large corporations, closely held corporations have only a few shareholders, which in some cases are friends or members of the same family. Although in an ideal world shareholders of a closely held business get along, especially when friends and family, it is important for the Shareholders to execute a Shareholder Agreement. The Shareholder Agreement can protect the individual interests of the shareholders, which may not always be aligned, and prevent an unnecessary dissolution of the Corporation over a shareholder dispute.
Continue Reading Shareholder Agreements Can Protect Shareholder Interests and the Success of Closely Held Corporations

Before you agree to take the plunge to expand your solely owned limited liability company into a multi-member limited liability company, you should consider important issues that should be discussed with your new partner(s) prior to any transaction taking place.
Continue Reading Considerations When Adding Members to Your Solely Owned Limited Liability Company