We are aware that many municipalities are being affected by the tough economic conditions that persist in the country. The economic crisis may have negatively impacted many of the redevelopment and revitalization efforts undertaken in your municipality stalling the forward progression of projects.
There is some good news on the horizon. The New Jersey Redevelopment Authority (NJRA) has extended its technical assistance arm through the NJRA Redevelopment Training Institute (NJRA RTI). All local elected officials, city managers, planners and finance officials can benefit from this training and become better prepared to carry out redevelopment decisions. NJRA RTI has made scholarship opportunities available to municipalities that wish to enroll in the Institute.
NJRA RTI offers intensive intermediate-level training courses that focus on redevelopment. Courses include:
- Redevelopment Planning Process
The Redevelopment Planning Process is a 3½-day dynamic and engaging course, which explores the legal and planning aspects of the redevelopment process in New Jersey. Case studies are used to demonstrate the successes and pitfalls of redevelopment planning. Students taking this course can receive 14 Certification Maintenance (CM) or Law credits offered through the American Institute of Certified Planners. The last day of the course offers a panel discussion, which can be taken separately for two (2) CM credits.
This four-day course gives students an in-depth overview of the terms, concepts, players and the process of real estate development. Industry leaders delve into the many nuances of this complex subject matter and leave attendees with a better understanding of implementing and developing a real estate project, the roles and responsibilities of the project team, market analysis, and property acquisition strategies. Experts from all segments of the industry teach with first-hand accounts and real-life examples; demonstrating what works and what doesn’t, while highlighting some of their own success stories.
This four-day course introduces the key components of project finance. Students learn the terms and conditions along with a review of loan applications and closing documents. Learning from a hands-on approach, participants analyze and development project financials, calculate debt capacity, loan payments, ratios, and return on investments. Students also explore various tools and incentives used to close financing and improve project feasibility.
Core courses are enhanced with supplemental one-day workshops that address key issues pertaining to redevelopment. Workshops, which are open to both past graduates and the general public, keep participants up-to-date on what is taking place in the development world.
Since its launch in 2006, NJRA RTI has trained more than 400 students with an emphasis on local elected officials, business administrators, planning and zoning officials and redevelopment authority representatives from municipalities throughout the state. For your convenience courses are now offered regionally in Northern, Central and Southern New Jersey.
Be sure to look for an upcoming article on the effectiveness of the NJRA Redevelopment Training Institute in the city of Elizabeth in the April edition of our League Magazine. More information about the NJRA Redevelopment Training Institute can be found by visiting the web site at www.njra/rti. If you have specific questions please contact Leslie A. Anderson, Executive Director, NJRA at 609.292.1071.
Very truly yours,
|Timothy McDonough, President
NJLM and Mayor Hope Township
PO Box 284
Hope NJ 07844-0284
Hon. Jim Maley
Chair League Economic Development Task Force
Mayor, Collingswood Borough
678 Haddon Ave
Collingswood NJ 08108-3704