|
|
|
|
|
|
|
|
| |
Prior to applying for funding, interested parties should contact the CRDA Director of Project Management to determine whether the proposed project fits the general guidelines of the CRDA. Organizations interested in CRDA project financing should submit a completed project application, which may be downloaded from this page, including the following information:
- Description of the project including the boundaries of the site, zoning, neighborhood description, parking, the benefits and needs for such a project.
- A detailed breakdown of development costs presented as a development pro forma.
- A list of the sources of capital for which you have obtained firm, written commitments. Describe the loan collateral, lien positions, conditions and terms of all loans and grants related to the project.
- A projected operating pro forma at minimum 10 years for economic development-type projects and 15 years for housing.
- A marketing feasibility study by a recognized expert in the field applicable to the project.
- A clear map, 8 ½ X 11, of the municipality showing the location of your project.
- Description of the developer, the development team, ownership and the experience of the developer.
- Project and construction schedules
- A copy of the site control document, if applicable.
- Financial history of the developer for the past three (3) years.
- Description of environmental conditions that exist on or near the site.
- Marketing, managing and monitoring plans for the project.
- Documentation that demonstrates the project meets the eligibility criteria
- Payment in the form of a check payable to the ‘Casino Reinvestment Development Authority’ for the initial, non-refundable application fee of $500.00. (Additional documents may be required depending on the project)
Please be aware that the amount of CRDA loan and grant funds available for current and future years is very limited. Preparation and submittal of an application does not guarantee approval of the funds requested. Applicants should approach CRDA as a gap funding source to be considered once all other sources have been exhausted.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
|
|