RAD FINANCING AS TOOL TO SPUR COMMUNITY REDEVELOPMENT WILL BE TOPIC OF ALL-DAY SEMINAR IN TRENTON OCT. 6
TRENTON, N.J. (September 14, 2006) – Revenue Allocation District (RAD) financing provides New Jersey communities with a powerful mechanism to spur the development of targeted areas and stimulate investment in underutilized properties. Developers, public officials and service providers in New Jersey can gain a better understanding of this tool and discuss its applications with national experts and fellow practitioners from across the state by attending an RAD Financing Seminar on Oct. 6 at the Trenton Marriott Lafayette Yard.
“RAD financing offers a largely untapped opportunity for New Jersey municipalities and developers to work together to advance needed redevelopment projects that bring new jobs and economic opportunity into a community,” said EDA Chief Executive Officer Caren S. Franzini. “Consistent with Gov. Corzine’s newly released Economic Growth Strategy, the purpose of this workshop is to create greater awareness of this financing tool and initiate a dialogue with potential users on crafting a successful investment strategy.”
The all-day seminar will be presented by the New Jersey Economic Development Authority (EDA) in partnership with the national Council of Development Finance Agencies. The program is sponsored by Public Service Electric & Gas Company.
Program sessions will focus on the principles for implementing district-based redevelopment financing, options for bond issuance and financing structure, using RAD financing with other financing tools, strategies for building community partnerships and RAD examples from New Jersey and other states. Speakers will include industry experts and practitioners from New Jersey and across the country. Lunch will be provided.
Cost for the seminar is $100 for public sector/nonprofit representatives and $125 for private sector attendees. For more information about the RAD Financing Seminar and to register online (through Sept. 29), visit http://www.cdfa.net/cdfa/cdfaweb.nsf/pages/njedatifseminar.html Registration will also be available at the door.
The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.