City of Camden, NJ Local Economic Redevelopment and Growth Grant Program

A developer of a project located in the City of Camden meeting the eligibility requirements set forth in N.J.A.C. 19:31-4.3 and seeking incentives under the Local ERG Program shall submit an application to the City of Camden for a local incentive grant prior to July 1, 2019. A developer that submits an application for a local incentive grant shall indicate on the application whether it is also applying for a state incentive grant. The City of Camden shall review said application in accordance with the factors set forth in N.J.A.C. 19:31-4.7 and may grant preliminary approval of a local incentive grant by introduction of an approving ordinance. Upon introduction of the approving ordinance, the City shall forward the application to EDA for purposes of conducting an eligibility review and fiscal impact analysis. Once the EDA has completed an eligibility review and fiscal impact analysis, said application shall be forwarded to the Local Finance Board in the Department of Community Affairs for approval. Upon approval by the Local Finance Board, the City of Camden may grant final approval by adoption of the approving ordinance.

[Amended 8-24-2017 by Ord. No. MC-5070]

Pursuant to the authorization contained in N.J.S.A. 52:27D-489d, and in accordance with the local incentive grant agreement, beginning upon the receipt of occupancy permits for any portion of the redevelopment project, or upon any other event evidencing project completion as set forth in the local incentive grant agreement, the municipality shall pay to the developer incremental municipal revenues in an amount of up to an average of 75% of the projected annual incremental revenues directly realized from businesses operating at the site of the redevelopment project from the following taxes:

(1)

Incremental payments in lieu of taxes, with respect to property located in the district, made pursuant to the "Five-Year Exemption and Abatement Law," P.L. 1991, c. 441 (N.J.S.A. 40A:21-1 et seq.), or the "Long Term Tax Exemption Law," P.L. 1991, c, 431 (N.J.S.A. 40A:20-1 et al.);

(2)

Incremental revenues collected from payroll taxes, with respect to business activities carried on within the area, pursuant to Section 15 of P.L. 1970, c. 326 (N.J.S.A. 40:48C-15);

(3)

Incremental revenue from lease payments made to the municipality, the developer, or the developer's successors with respect to property located in the area;

(4)

Incremental revenue collected from parking taxes derived from parking facilities located within the area pursuant to Section 7 of P.L. 1970, c. 326 (N.J.S.A. 40:48C-7);

(5)

Incremental admissions and sales taxes derived from the operation of a public facility within the area pursuant to Section 1 of P.L. 2007, c. 302 (N.J.S.A. 40:48G-1);

(6)

Incremental sales and excise taxes which are derived from activities within the area and which are rebated to or retained by the municipality pursuant to the "New Jersey Urban Enterprise Zones Act," P.L. 1983, c. 303 (N.J.S.A. 52:27H-60 et seq.) or any other law providing for such rebate or retention;

(a)

Within Planning Area 1 (Metropolitan) under the State Development and Redevelopment Plan adopted pursuant to the "State Planning Act," Sections 1 through 12 of P.L.1985, c. 398 (N.J.S.A.52:18A-196 et seq.), the municipality may impose the entire state sales tax on business activities within a redevelopment project located in an urban enterprise zone that would ordinarily be entitled to collect reduced rate revenues under Section 21 of P.L.1983, c. 303 (N.J.S.A.52:27H-80), and pledge the excess revenues to a local redevelopment incentive grant agreement;

(7)

Incremental parking revenue collected, pursuant to Section 7 of P.L. 1970, c. 326 (N.J.S.A. 40:48C-7), from public parking facilities built as part of a redevelopment project, except for public parking facilities owned by parking authorities pursuant to the "Parking Authority Law," P.L. 1948, c. 198 (N.J.S.A.40:11A-1 et seq.);

(8)

Incremental revenues collected, pursuant to Section 3 of P.L. 2003, c. 114 (N.J.S.A. 40:48F-1), P.L. 1981, c. 77 (N.J.S.A. 40:48E-1 et seq.), or P.L. 1947, c. 71 (N.J.S.A.40:48-8.15 et seq.), from hotel and motel taxes;

(9)

Upon approval by the Local Finance Board, other incremental municipal revenues that may become available;

(10)

The property tax increment, except in the case of a Garden State Growth Zone, in which such property tax increment and any other incremental revenues are calculated as those incremental revenues that would have existed notwithstanding the provisions of the "New Jersey Economic Opportunity Act of 2013," P.L. 2013, c. 161 (N.J.S.A. 52:27D-489p et seq).

The incremental revenue for the revenues listed in this subsection, when applicable, shall be calculated as the difference between the amounts collected in any fiscal year from any eligible revenue source included in the local redevelopment incentive grant agreement, less the revenue increment base for that eligible revenue. All administrative costs associated with the local incentive grant shall be assessed to the applicant and be retained by the municipality from the annual local incentive grant payments.