et seq.

While not technically required under ISRA, LNAs have come to bea familiar and much relied-on punch list item in most transactionsinvolving commercial and industrial real estate in New Jersey.Purchasers, landlords and lenders have come to rely heavily on themas a way of obtaining assurances, backed by the NJDEP's officialimprimatur and the certification of LNA applicants (made underpenalty of perjury), that a given purchase transaction or tenant'scessation of operations will not trigger ISRA's requirements.

But with the NJDEP's recent announcement that as of May 1, 2008,it will no longer issue Letters of Non-Applicability ("LNAs") as itseeks to cut costs in the midst of a statewide budget crisis,parties to thousands of transactions across the state arescrambling to find acceptable substitutes for the heretoforeubiquitous LNA. The NJDEP announced it was taking the actionbecause LNAs are not required under ISRA for transactions that donot trigger the requirements of the statute, and the Departmentprefers instead to focus its scarce financial resources on programsthat involve mandatory compliance obligations.