Casino closings and resulting job loss, create ripple of foreclosures throughout New Jersey, cause more cities to pass registration ordinances
Egg Harbor Township, NJ: A diminished job market has contributed to a rise in vacant property, following the closing of four casinos in Atlantic City.
In the aftermath of Hurricane Sandy, leadership of the township introduced city ordinances to identify properties abandoned for more than half a year, as well as handle condemned properties now contributing to blight conditions following the hurricane’s wake.
The new proposal would allow for abandoned homes and homes in the foreclosure cycle to be catalogued, then be assessed registration fees and other potential charges based on city compliance codes.
With repairs still underway across the state after the storm’s ravages, and economic stability still uncertain or in slow recovery across the country, the increased cost to residents and the township to handle safety concerns arising from vacant homes stands to further delay the return to a more secure life.
Details for identifying and then charges for vacant property registration and upkeep remain under discussion, but an ordinance is likely forthcoming as 2015 begins.
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