NEW JERSEY REDEVELOPMENT FORUM 2013       Building The Capacity To       Manage Redevelopment
Bayonne Crossing Location
December 19, 2007
December 3, 2011
Bayonne Crossing Lease Plan
Bayonne Crossing Fun FactsProject Cost:                                                                                   ...
Private-Public PartnershipCity of Bayonne: Municipal Council; Planning Board; Zoning and Planning and the CityAssessor:Bay...
Public Review   67 Governmental Meetings   17 Governmental Authority Resolutions   12 Public Hearings   6 Ordinances______...
Complicated Private Agreements•   Land Purchase Agreements•   ExxonMobil Remediation Agreements•   Environmental Site Acce...
Project Financing NJRA                      $ 2,000,000   Pre-Development HDSRF                     $   440,000   PAR Fu...
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NJFuture Redevelopment Forum 13 Building Capacity Alderman

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NJFuture Redevelopment Forum 13 Building Capacity Alderman

  1. 1. NEW JERSEY REDEVELOPMENT FORUM 2013 Building The Capacity To Manage Redevelopment
  2. 2. Bayonne Crossing Location
  3. 3. December 19, 2007
  4. 4. December 3, 2011
  5. 5. Bayonne Crossing Lease Plan
  6. 6. Bayonne Crossing Fun FactsProject Cost: $82,000,000Remediation of: 30.5 Acres of LandBuildings/Total GLA: 11/356,500FTE Jobs After Open: 900PILOT Benefit to City: $60,000,000UEZ Benefit to City: $2,000,000-$4,000,000 Annually___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Construction Jobs: >1000Soil Removed From Site: >48,000 TonsSteel Recycled From Site: >440 TonsConcrete Recycled From Site: >16,000 TonsWater Recycled From Site: +/-4,000,000 GallonsCMCs Installed: 34 MilesStorm Detention Installed: 210,000 c.f.
  7. 7. Private-Public PartnershipCity of Bayonne: Municipal Council; Planning Board; Zoning and Planning and the CityAssessor:Bayonne Local Redevelopment AuthorityBayonne Municipal Utilities AuthorityBayonne Economic Development CorporationBayonne UEZHudson CountyHudson County Improvement AuthorityHudson County Planning BoardHudson, Essex & Passaic County Soil Improvement DistrictPassaic Valley Sewerage CommissionNew Jersey DCA and LFBNew Jersey Redevelopment AuthorityNew Jersey Economic Development AuthorityNew Jersey Department of TransportationNew Jersey Department of Environmental ProtectionNew Jersey Environmental Infrastructure Trust
  8. 8. Public Review 67 Governmental Meetings 17 Governmental Authority Resolutions 12 Public Hearings 6 Ordinances______________________________________________________________________________________ 1 License 1 Remedial Action Workplan (6 amendments) 10 Permits (4 re-issued) 17 Governmental Approvals
  9. 9. Complicated Private Agreements• Land Purchase Agreements• ExxonMobil Remediation Agreements• Environmental Site Access Agreements• Financial & Loan Closing Agreements• Insurance Agreements• Remediation Contracts• Site Work Contracts• Building Contracts• Labor Issues
  10. 10. Project Financing NJRA $ 2,000,000 Pre-Development HDSRF $ 440,000 PAR Funding Owner Equity $ 8,000,000 NJEDA Loan $ 1,000,000 Smart Growth Construction Loan $30,000,000 KeyBank,Sun National & Beacon Construction Loan LC $14,000,000 KeyBank NJEIFP Program Loan $18,000,000 NJEIT and NJDEP BLRA and HCIA Conduit Bonds; City & County Guarantees NJEDA Direct Loan $ 2,000,000 Bayonne UEZ $ 2,000,000

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