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DailyEnergyInsider
Legislation to ensure that overburdened communities in New Jersey have access to clean energy passed the state's Senate Environment and Energy Committee this week.
The New Jersey Clean Energy Equity Act, Senate Bill 2484, would create the Office of Clean Energy Equity within New Jersey's Board of Public Utilities (BPU) and would give those living in low and mid-income communities the same access to clean energy as the rest of the state. Also, 10% of the state's clean energy budget would be used for the cause.
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NJSME
On June 10 and June 24, the NJSME entered the world of virtual meetings and the feedback has been great!
The June 10 meeting featured presentations from NJDOT Local Aid and an expert on industrial/workplace hygiene who spoke about return to work precautions and mitigation in the current climate. The June 24 meeting included a presentation from NJDEP on the New Stormwater Rules and an expert panel featuring engineers, attorneys, business administrators and a Mayor who spoke about local government operations in these challenging times, including dialogue about handling outdoor dining and other related measures through ordinances, executive orders, etc.
If you missed these meetings, it's not too late! We have archived them for you. You can go to our website and follow the prompts to register. It will only take a couple minutes.
Upon registration and completion, you will be sent your continuing education certificate(s).
Commercial Property Executive
Advance Realty Investors and Greek Development have received $103.5 million in construction financing for the first two buildings at their planned 10-building, 3.2 million-square-foot, Class A Logan North Industrial Park in Logan Township, Gloucester County, New Jersey, Cushman & Wakefield served as the borrowers' exclusive adviser in procuring the funding.
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Transportation Today
U.S. Rep. Frank Pallone said South Amboy, New Jersey, is slated to receive $5.3 million from the U.S. Department of Transportation's (DOT) Passenger Ferry Grant program for terminal construction. Officials said the Passenger Ferry Grant program, which provides funding for passenger ferry systems in urbanized areas, will fund construction of a Ferry Terminal Facility accommodating up to three ferry vessels — giving pedestrians, automobiles, buses and rail systems access to commuter ferry service between New Jersey and downtown Manhattan.
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NJBIZ
The increase of COVID-19 throughout the country could short-circuit New Jersey’s economic recovery, which began to rebound in May and June, according to a new Rutgers report. New Jersey followed April's record job losses with record gains in May and June. By June's end, New Jersey had gained 130,900 jobs, one-quarter of the total lost before the COVID-19 shutdown — about 536,400 fewer jobs in the state and 13.4 million nationwide, according to the report.
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NJ Spotlight
Already one of the nation's most indebted states, New Jersey could do more than a decade's worth of borrowing within a year under a new law that authorizes selling bonds to fund the budget during the coronavirus pandemic.
The COVID-19 borrowing law, enacted by Gov. Phil Murphy last week, allows for up to $9.9 billion in bonds to be issued without voter approval between now and the middle of next year to make up for revenue losses triggered by the health crisis.
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Construction Dive
A variety of pandemic-related forces have caused construction costs to decline slightly for the first time in a decade, which could lead contractors to feel a pinch in profits. The Turner Building Cost Index, which measures costs in the U.S. nonresidential building construction market, fell to a value of 1177 in the second quarter of 2020, a 1.01% quarterly reduction from the first quarter. This is the first time the index from Turner Construction Co. has reduced in value since 2010.
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ForConstructionPros.com
Throughout much of the U.S., high temperatures and humidity in the summer season can create hot and hazardous working conditions, both outdoors and indoors. The U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) reminds employers of their duty to protect employees from the risks and dangers of heat exposure. OSHA reminds employers of a few ways to mitigate heat hazards.
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Building Design + Construction
Earlier this week the Small Business Administration and U.S. Treasury Department released a list of recipients from the government's Paycheck Protection Program (PPP), which so far has allocated $521 billion of the $670 billion approved by Congress under the CARES Act to nearly 659,000 borrowers. The Trump Administration claims that this program has supported 51 million jobs, roughly 84% of whom work for small businesses.
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Law.com
Construction cost overruns seem to be the norm, not the exception. Research by Dodge Data & Analytics has consistently shown that projects are frequently delivered over budget and late. According to a McKinsey & Co. survey, large projects across asset classes typically take 20% longer to finish than scheduled and are up to 80% over budget. Cost overruns may be caused by poor estimates; overly ambitious scopes, schedules or budgets; weather conditions and/or human errors, among other things. Controlling overruns is key to achieving a successful project.
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Construction Best Practices
If you're in the construction industry, cutting costs is probably high on your priority list. Labor, equipment and operation costs are on the rise, and it can often seem like there's no way to get ahead. Could computer-aided design (CAD) be the key to reducing construction costs? In short, yes.
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