| |
City of Camden Revitalization Project List
The Board also is responsible for preparing and approving a prioritized list of redevelopment projects which may include construction and acquisition of properties, road and utility infrastructure improvements, business development, housing, social and health care services, brownfield remediation and recreational facilities.
By March 1 of each year, the ERB must submit a report to the Legislature for the upcoming fiscal year which identifies general project categories and proposed projects to be financed in the following fiscal year along with an estimate of funds to be spent.
By August 1 of each year, the ERB must submit a Financial Plan on how it plans to implement the financing for each proposed project.
The Members adopted the ERB Priority Projects List (PPL) at its meeting on July 22, 2003 that identifies legislatively mandated economic development projects as well as potential revitalization projects that meet the threshold criteria for ERB funding detailed in the ERB Guide for Program Funds adopted by the Board at its June 20, 2003 meeting. It should be noted that, except for the legislatively mandated projects, being on the list does not guarantee funding. These project must submit applications like any other applicant seeking ERB funds. Also, after the application process, those projects that are approved by the Board will be included on an amended projects list.
Background
Section 45 of the Municipal Rehabilitation and Economic Recovery Act (the "Act") states that the Board shall prepare a project list that is consistent with the Strategic Revitalization Plan and Capital Improvement and Infrastructure Master Plan to the extent practicable and shall include a series of projects that are prioritized according to their importance in revitalizing the municipality.
As part of its consulting contract with the ERB, Hammer Siler George was asked to prepare the PPL. This required a two-step process that involved identifying a large group of potential projects that might contribute to the City's revitalization, and then evaluating those projects, using predetermined project definition and selection criteria, to narrow the list to those projects that should have a priority. As part of HSG's planning process, interviews were held with over 100 representatives of community, government and business entities. Preparation for the interviews included a review of more than 50 reports and neighborhood plans to identify potential projects. Over 100 ideas, initiatives and potential projects were identified and verified through the interviews and HSG then undertook a screening process to narrow the list to those projects that met the selection criteria.
HSG was assisted in this assessment by input from the NJEDA and the Technical Advisory Committee. Projects were evaluated against the following questions:
- Does the project meet the definition of an ERB project?
- Does the project have a designated developer who has provided or can provide the information necessary to apply the selection criteria?
- Does the project have a specific time frame for start or completion that would fall within the selection criteria guidelines of two years for start and four years for completion?
- Is there an indication that the project will require ERB funds to meet some but not all of its funding needs?
- Is the project in one of the neighborhood and employment opportunity areas identified in the SRP?
This effort produced eight legislatively mandated projects, twenty-one housing and economic development projects, and eleven capital improvement and infrastructure projects for further vetting and potential ERB funding (Appendices B, C and D of the PPL).
EDA and HSG then met to discuss next steps. It was determined at this point that any further prioritization of these projects would require substantial additional information from the potential project sponsors to determine the financial and operational viability of the project. Concurrently, the Board had indicated its desire to release ERB funds through an open application process and staff had been directed to develop this process. Any further data gathering efforts by the consulting team would duplicate the application process that the EDA was creating with the input of the Project Review Committee of the Board. Accordingly, HSG was asked to provide the ERB with a PPL that incorporated these preliminary project recommendations only.
Potential project sponsors are to be sent a letter explaining this policy, as well as a copy of the Guide to Program Funds and an Application. The letter will explain that their project's inclusion in the report did not guarantee funding and encouraged the sponsor to apply for ERB funding, as their projects met the selection criteria. If an application is received for the potential project, it will undergo the review and approval process adopted by the Board. After that process is completed, those projects that are approved by the Board will be included on an amended project list.
Copyright © 2012 New Jersey Economic Development Authority (NJEDA)
PO Box 990
Trenton, NJ 08625-0990
(609) 292-1800
E-mail: njeda@njeda.com
Problems with the site? Email webmaster@njeda.com