Modifies requirements for certain projects under Economic Redevelopment and Growth Grant program.

S 3097 extends the deadline for submitting temporary certificates of occupancy for certain redevelopment projects from June 30, 2026 to June 30, 2028. The bill specifically applies to qualified residential projects and mixed use parking projects located in Garden State Growth Zones with populations over 125,000 (excluding Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, and Salem counties). It modifies the definition of "project cost" to include capitalized interest paid to third parties (deemed directly related to construction), debt service reserve fund funding, infrastructure improvements, and up to 20% of total project cost for non-construction expenses. Additionally, the bill allows developers to exclude visitor centers or youth centers from mixed use parking project applications while still qualifying for incentives.