Nj future redevelopment forum 2014 eoa bzik

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Nj future redevelopment forum 2014 eoa bzik

  1. 1. UNDERSTANDING THE CONNECTIONS BETWEEN THE NJ EOA & THE SOMERSET COUNTY STRATEGIC PLAN Robert Bzik, AICP/PP, Director Somerset County Planning Board NJ Future Redevelopment Forum Panel: “Getting the Most Out of the Economic Opportunity Act” March, 14, 2014
  2. 2. Bookend Economic Strategy • Comprehensive Economic Development Strategy • Somerset County Investment Framework Economic Opportunity Act • Interpretation and Impact Smart Growth Perspective Overview
  3. 3. Comprehensive Economic Development Strategy Bookend Economic Strategy Somerset County Investment Framework
  4. 4. GOALS: Job Creation and Private Sector Investment PRIORITY FOCUS AREAS: • Leverage business resources and services to attract and retain industries and companies • Re-use significant properties to incentivize targeted industry growth • Reduce the Regulatory Burden • Improve the delivery of employer-focused workforce development resources • Target transportation and utility investments in areas that will have the greatest economic impact Comprehensive Economic Development Strategy
  5. 5. Somerset County Investment Framework PURPOSE: Provide a criteria-based framework for identifying areas most suitable for growth GOALS: • Support ongoing regional and local smart growth, preservation, economic revitalization, sustainability and resiliency planning initiatives • Achieve tactical alignment of land use, infrastructure and preservation plans, resources, programs, policies and investment decisions • Convey a clear investment message regarding local and regional land use priorities for both the public and private sectors
  6. 6. Interpreting and Mapping the Economic Opportunity Act
  7. 7. Basic Eligibility • Qualified Incentive Area • Priority Area • Mega Project* • Garden State Growth Zone • Urban Transit Hub • Distressed Municipality Bonus Incentives • Deep Poverty Pocket • Transit Oriented Development • Mixed Use Development • …many others Location-Based Incentives – Overview
  8. 8. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) Location-Based Incentives – Base Eligibility
  9. 9. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) Location-Based Incentives – Base Eligibility
  10. 10. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) Location-Based Incentives – Base Eligibility
  11. 11. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) Location-Based Incentives – Base Eligibility
  12. 12. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District Location-Based Incentives – Base Eligibility
  13. 13. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area Location-Based Incentives – Base Eligibility
  14. 14. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area Location-Based Incentives – Base Eligibility
  15. 15. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation Location-Based Incentives – Base Eligibility Areas determined to be in need of redevelopment or rehabilitation (Local Redevelopment & Housing Law)
  16. 16. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation • Designated Center Location-Based Incentives – Base Eligibility
  17. 17. Qualified Incentive Area - $500 • Planning Area 1 (Metropolitan) • Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation • Designated Center Location-Based Incentives – Base Eligibility About 70% of the county is “qualified.” Outside of these areas, incentives may still be available if the property has a structure, or has ever had a structure.
  18. 18. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation • Designated Center Location-Based Incentives – Base Eligibility
  19. 19. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe) • Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation • Designated Center Location-Based Incentives – Base Eligibility
  20. 20. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation • Designated Center Location-Based Incentives – Base Eligibility
  21. 21. Location-Based Incentives – Base Eligibility Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation  Designated Center
  22. 22. Location-Based Incentives – Base Eligibility Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation  Designated Center  Deep Poverty Pocket Census tract with at least 20% of the population below the poverty level
  23. 23. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation  Designated Center  Deep Poverty Pocket Location-Based Incentives – Base Eligibility
  24. 24. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation  Designated Center  Deep Poverty Pocket  Transit Oriented Development Location-Based Incentives – Base Eligibility Within ½-mile of a public transit station (NJ Transit, PATH, PATCO)
  25. 25. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation  Designated Center  Deep Poverty Pocket  Transit Oriented Development Location-Based Incentives – Base Eligibility Overall, about 50% is “priority” and 20% is “qualified” at the base level.
  26. 26. Location-Based Bonuses • Deep Poverty Pocket • $1,500 Location-Based Incentives – Bonuses
  27. 27. Location-Based Bonuses • Deep Poverty Pocket • $1,500 Location-Based Incentives – Bonuses
  28. 28. Location-Based Bonuses • Deep Poverty Pocket • $1,500 • Transit Oriented Development • $2,000 Location-Based Incentives – Bonuses
  29. 29. Priority Area - $3,000  Planning Area 1 (Metropolitan)  Planning Area 2 (Suburban) • Planning Area 3 (Fringe)  Port District • Highlands Planning Area • Planning Area 4/4B/5, if: • Designated Area in Need of Redevelopment or Rehabilitation  Designated Center  Deep Poverty Pocket  Transit Oriented Development Location-Based Incentives – Base Eligibility Overall, about 50% is “priority” and 20% is “qualified” at the base level.
  30. 30. Location-Based Bonuses • Deep Poverty Pocket • $1,500 • Transit Oriented Development • $2,000 Location-Based Incentives – Bonuses
  31. 31. Location-Based Bonuses • Deep Poverty Pocket • $1,500 • Transit Oriented Development • $2,000 • Mixed-Use Development • $500 Location-Based Incentives – Bonuses Located in a mixed-use development with moderate income housing for at least 20% of full-time employees
  32. 32. Location-Based Bonuses • Deep Poverty Pocket • $1,500 • Transit Oriented Development • $2,000 • Mixed-Use Development • $500 Location-Based Incentives – Bonuses
  33. 33. Qualified Incentive Area ($500) • Planning Area 3 (Fringe) • Highlands Planning Area • Designated Area in Need of Redevelopment/Rehabilitation Priority Area ($3,000) • Planning Areas 1 and 2 • Port District • Designated Center • Deep Poverty Pocket • Transit Oriented Development Location-Based Bonuses • Mixed-Use Development ($500) • Deep Poverty Pocket ($1,500) • Transit Oriented Development ($2,000) Location-Based Incentives – Summary
  34. 34. Smart Growth Perspective Somerset County Investment Framework Focuses investment using asset-based criteria Built upon updated planning policy framework Emphasizes regional, interdependent opportunities NJ Economic Opportunity Act Broadens incentive eligibility to encourage growth Uses traditional planning areas combined with new economic-oriented policy areas Emphasizes site-level, project-specific criteria
  35. 35. EOA Weighted toward Urban Areas • EOA incentives extend to areas where open space, farmland and historic preservation are higher priorities • EOA = tax incentives whereas CIF & CEDS are comprehensive • EOA minimum capital investment is favors rehab CATEGORY MAXIMUM ANNUAL INCENTIVE Garden State Growth Zone $30 million Urban Transit Hub $10 million Distressed Areas $80 million Versus Priority Areas $4 million Other Eligible Areas $2.5 million CATEGORY MAXIMUM ANNUAL INCENTIVE Industrial Rehab $20 /sq. ft. Office Rehab $40 /sq. ft. Versus Industrial New $60 /sq. ft. Office New $120/ sq. ft.
  36. 36. FOR MORE INFORMATION, PLEASE CONTACT: SOMERSET COUNTY PLANNING BOARD Somerset County Administration Building 20 Grove Street, P.O. Box 3000 Somerville, NJ 08876 Phone: (908) 231-7021 Fax: (908) 707-1749 E-mail: Planningbd@co.somerset.nj.us http://www.co.somerset.nj.us/planweb/index.htm

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