Strategies for Success in New Jersey Opportunity Zones

 
 
2018
NJ League of Municipalities
 
New Jersey Opportunity Zones
Strategies for Success
 
Support Existing Communities
Balancing Equitable and Inclusive
Development
Promote development to different investors
and varying levels of investment type
Exploring Pathways to refocus non-state
resources
 
Exploring Pathways to refocus non-state
resources
Engage Stakeholders
Focus on transit-oriented development
 
 
State of NJ
Municipalities
Developers
Investors
Business Owners
Community Residents
Non-Profit Organizations
OPPORTUNITY ZONE PARTNERSHIPS
We’re there First
 
Primary Groups
We’re there First
Who Is at the table
(Locally)
 
M
AYOR
/C
OUNCIL
P
LANNING
 B
OARD
Z
ONING
 B
OARD
T
AX
 A
SSESSOR
C
OMMUNITY
 B
ASED
 O
RGANIZATION
L
OCAL
 N
ON
-P
ROFITS
L
OCAL
 S
MALL
 B
USINESS
D
EVELOPERS
We’re there First
 
Municipal role
(Hook, Hammer and Monitoring)
 
Stable development environment
Streamlined Permit Process
Clear policy for local tax incentives
Articulate the need for community benefits
Recognize Municipal Vulnerabilities and
Strategies in Place to address identified issues
Efficient and Effective Municipal Approval
Process
Project Impact
 
 
We’re there First
 
Municipal Approvals
Environmental Approvals
Signed Agreements
Approved Financing
Ready to Go Projects
(
Real Estate Development
)
 
How will Opportunity
Zone Investment Work
 
Functions as Equity
 
Serves as a part of the
  Capital Stack
 
Business Investment
 
Real Estate Transactions
We’re there First
Project  Investment
We’re there First
Project  IMPACT
 
Steer development, businesses, and investment in
distressed neighborhoods
Opportunity to connect community residents with
jobs and economic opportunities incentivized by the
program
Incentive to attract investment to vacant and
blighted properties targeted for redevelopment
Financing for community development projects with
both public and private benefit
Opportunity to strengthen and support small and
locally-owned businesses, through an outside flow of
capital
 
We’re there First
Contact us
 
LESLIE A. ANDERSON
   
DARRYL GODFREY
President and CEO
    
Chief Operating Officer
609.278.5171
    
609.278.5175
landerson@njra.us
    
dgodfrey@njra.us
 
New Jersey Redevelopment Authority
www.njra.us
 
State of NJ Opportunity Zones
https://www.state.nj.us/dca/divisions/lps/opp_zones.html
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Explore key principles and strategies for success in New Jersey Opportunity Zones, focusing on building a stable development environment, efficient municipal approval processes, and attracting investment to distressed neighborhoods. The initiative aims to steer development, support local businesses, and connect community residents with economic opportunities. Contact the New Jersey Redevelopment Authority for more information.


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  1. 2018 NJ League of Municipalities New Jersey Opportunity Zones Strategies for Success

  2. PRINCIPLES

  3. PRINCIPLES

  4. MAYOR/COUNCIL PLANNING BOARD ZONING BOARD TAX ASSESSOR COMMUNITY BASED ORGANIZATION LOCAL NON-PROFITS LOCAL SMALL BUSINESS DEVELOPERS

  5. Stable development environment Streamlined Permit Process Clear policy for local tax incentives Articulate the need for community benefits Recognize Municipal Vulnerabilities and Strategies in Place to address identified issues Efficient and Effective Municipal Approval Process Project Impact

  6. Municipal Approvals Environmental Approvals Signed Agreements Approved Financing

  7. How will Opportunity Zone Investment Work Functions as Equity Serves as a part of the Capital Stack Business Investment Real Estate Transactions

  8. Steer development, businesses, and investment in distressed neighborhoods Opportunity to connect community residents with jobs and economic opportunities incentivized by the program Incentive to attract investment to vacant and blighted properties targeted for redevelopment Financing for community development projects with both public and private benefit Opportunity to strengthen and support small and locally-owned businesses, through an outside flow of capital

  9. LESLIE A. ANDERSON President and CEO 609.278.5171 landerson@njra.us DARRYL GODFREY Chief Operating Officer 609.278.5175 dgodfrey@njra.us New Jersey Redevelopment Authority www.njra.us State of NJ Opportunity Zones https://www.state.nj.us/dca/divisions/lps/opp_zones.html

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