NEW JERSEY REDEVELOPMENT FORUM 2013

Building The Capacity To

Manage Redevelopment

Bayonne Crossing Location

December 19, 2007

December 3, 2011

Bayonne Crossing Lease Plan

Bayonne Crossing Fun FactsProject Cost: $82,000,000Remediation of: 30.5 Acres of LandBuildings/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___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

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.

Private-Public PartnershipCity of Bayonne: Municipal Council; Planning Board; Zoning and Planning and the City Assessor:Bayonne Local Redevelopment AuthorityBayonne Municipal Utilities AuthorityBayonne Economic Development CorporationBayonne UEZHudson CountyHudson County Improvement AuthorityHudson County Planning BoardHudson, Essex & Passaic County Soil Improvement DistrictPassaic Valley Sewerage CommissionNew Jersey DCA and LFBNew Jersey Redevelopment AuthorityNew Jersey Economic Development AuthorityNew Jersey Department of TransportationNew Jersey Department of Environmental ProtectionNew Jersey Environmental Infrastructure Trust

Public Review67 Governmental Meetings

17 Governmental Authority Resolutions

12 Public Hearings

6 Ordinances______________________________________________________________________________________

1 License

1 Remedial Action Workplan (6 amendments)

10 Permits (4 re-issued)

17 Governmental Approvals

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

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