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The CRDA reviews requests for funding on a continuous basis. Funding requests are submitted to the appropriate CRDA Project Review Committee. The Committee reviews these requests for program requirements, priority eligibility, need, and compliance with the Statute. If the Project Review Committee finds that a project is eligible for funding, it will recommend approval by the full CRDA Board.
The full CRDA Board provides three separate approvals for funding.
1. The first approval is for Preliminary Determination of Eligibility.
2. The second approval is for Project Approval.Prior to the second approval, the following activities must take place:
- Public Hearing in the municipality where the Project will be located.
- Project underwriting evaluations.
- Project bond rating.
3. The final approval is the approval of a Fund Reservation.
Should the Project Review Committee find a project ineligible, the applicant will be notified by the CRDA |
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