1. NEW JERSEY REDEVELOPMENT FORUM 2013
Building The Capacity To
Manage Redevelopment

2. Bayonne Crossing Location

3. December 19, 2007

4. December 3, 2011

5. Bayonne Crossing Lease Plan

6. Bayonne Crossing Fun Facts
Project Cost: $82,000,000
Remediation of: 30.5 Acres of Land
Buildings/Total GLA: 11/356,500
FTE Jobs After Open: 900
PILOT Benefit to City: $60,000,000
UEZ Benefit to City: $2,000,000-$4,000,000 Annually
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Construction Jobs: >1000
Soil Removed From Site: >48,000 Tons
Steel Recycled From Site: >440 Tons
Concrete Recycled From Site: >16,000 Tons
Water Recycled From Site: +/-4,000,000 Gallons
CMCs Installed: 34 Miles
Storm Detention Installed: 210,000 c.f.

7. Private-Public Partnership
City of Bayonne: Municipal Council; Planning Board; Zoning and Planning and the City
Assessor:
Bayonne Local Redevelopment Authority
Bayonne Municipal Utilities Authority
Bayonne Economic Development Corporation
Bayonne UEZ
Hudson County
Hudson County Improvement Authority
Hudson County Planning Board
Hudson, Essex & Passaic County Soil Improvement District
Passaic Valley Sewerage Commission
New Jersey DCA and LFB
New Jersey Redevelopment Authority
New Jersey Economic Development Authority
New Jersey Department of Transportation
New Jersey Department of Environmental Protection
New Jersey Environmental Infrastructure Trust

8. Public Review
67 Governmental Meetings
17 Governmental Authority Resolutions
12 Public Hearings
6 Ordinances
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1 License
1 Remedial Action Workplan (6 amendments)
10 Permits (4 re-issued)
17 Governmental Approvals

9. Complicated Private Agreements
• Land Purchase Agreements
• ExxonMobil Remediation Agreements
• Environmental Site Access Agreements
• Financial & Loan Closing Agreements
• Insurance Agreements
• Remediation Contracts
• Site Work Contracts
• Building Contracts
• Labor Issues

10. Project Financing
 NJRA $ 2,000,000 Pre-Development
 HDSRF $ 440,000 PAR Funding
 Owner Equity $ 8,000,000
 NJEDA Loan $ 1,000,000 Smart Growth
 Construction Loan $30,000,000 KeyBank,Sun National & Beacon
 Construction Loan LC $14,000,000 KeyBank
 NJEIFP Program Loan $18,000,000 NJEIT and NJDEP
 BLRA and HCIA Conduit Bonds; City & County Guarantees
 NJEDA Direct Loan $ 2,000,000
 Bayonne UEZ $ 2,000,000