Nj future redevelopment forum 2014 eoa bzik
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Transcript of Nj future redevelopment forum 2014 eoa bzik
UNDERSTANDING THE CONNECTIONS BETWEEN THE NJ EOA & THE SOMERSET COUNTY
STRATEGIC PLAN
Robert Bzik, AICP/PP, DirectorSomerset County Planning
Board
NJ Future Redevelopment Forum Panel: “Getting the Most Out of the Economic
Opportunity Act”March, 14, 2014
Bookend Economic Strategy• Comprehensive Economic Development
Strategy• Somerset County Investment Framework
Economic Opportunity Act• Interpretation and Impact
Smart Growth Perspective
Overview
Comprehensive Economic
Development Strategy
Bookend Economic Strategy
Somerset County Investment Framework
GOALS: Job Creation and Private Sector Investment
PRIORITY FOCUS AREAS:• Leverage business resources and services to
attract and retain industries and companies• Re-use significant properties to incentivize
targeted industry growth• Reduce the Regulatory Burden• Improve the delivery of employer-focused
workforce development resources• Target transportation and utility investments in
areas that will have the greatest economic impact
Comprehensive Economic Development Strategy
Somerset County Investment Framework
PURPOSE:Provide a criteria-based framework for identifying areas most suitable for growthGOALS:• Support ongoing regional and local smart
growth, preservation, economic revitalization, sustainability and resiliency planning initiatives
• Achieve tactical alignment of land use, infrastructure and preservation plans, resources, programs, policies and investment decisions
• Convey a clear investment message regarding local and regional land use priorities for both the public and private sectors
Interpreting and Mapping the Economic Opportunity Act
Basic Eligibility• Qualified Incentive Area• Priority Area• Mega Project*• Garden State Growth
Zone• Urban Transit Hub• Distressed Municipality
Bonus Incentives• Deep Poverty Pocket• Transit Oriented
Development• Mixed Use Development• …many others
Location-Based Incentives – Overview
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Location-Based Incentives – Base Eligibility
Areas determined to be in need of redevelopment or
rehabilitation (Local Redevelopment &
Housing Law)
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
• Designated Center
Location-Based Incentives – Base Eligibility
Qualified Incentive Area - $500• Planning Area 1
(Metropolitan)• Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
• Designated Center
Location-Based Incentives – Base Eligibility
About 70% of the county is “qualified.”
Outside of these areas, incentives may still be
available if the property has a structure, or has ever had a
structure.
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
• Designated Center
Location-Based Incentives – Base Eligibility
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe)• Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
• Designated Center
Location-Based Incentives – Base Eligibility
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
• Designated Center
Location-Based Incentives – Base Eligibility
Location-Based Incentives – Base EligibilityPriority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Designated Center
Location-Based Incentives – Base EligibilityPriority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Designated Center Deep Poverty Pocket
Census tract with at least 20% of the population below the
poverty level
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Designated Center Deep Poverty Pocket
Location-Based Incentives – Base Eligibility
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Designated Center Deep Poverty Pocket Transit Oriented
Development
Location-Based Incentives – Base Eligibility
Within ½-mile of a public transit station
(NJ Transit, PATH, PATCO)
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Designated Center Deep Poverty Pocket Transit Oriented
Development
Location-Based Incentives – Base Eligibility
Overall, about 50% is “priority” and 20% is “qualified” at the
base level.
Location-Based Bonuses• Deep Poverty Pocket
• $1,500
Location-Based Incentives – Bonuses
Location-Based Bonuses• Deep Poverty Pocket
• $1,500
Location-Based Incentives – Bonuses
Location-Based Bonuses• Deep Poverty Pocket
• $1,500• Transit Oriented
Development• $2,000
Location-Based Incentives – Bonuses
Priority Area - $3,000 Planning Area 1
(Metropolitan) Planning Area 2
(Suburban)• Planning Area 3 (Fringe) Port District• Highlands Planning Area• Planning Area 4/4B/5, if:
• Designated Area in Need of Redevelopment or Rehabilitation
Designated Center Deep Poverty Pocket Transit Oriented
Development
Location-Based Incentives – Base Eligibility
Overall, about 50% is “priority” and 20% is “qualified” at the
base level.
Location-Based Bonuses• Deep Poverty Pocket
• $1,500• Transit Oriented
Development• $2,000
Location-Based Incentives – Bonuses
Location-Based Bonuses• Deep Poverty Pocket
• $1,500• Transit Oriented
Development• $2,000
• Mixed-Use Development• $500
Location-Based Incentives – Bonuses
Located in a mixed-use development with moderate income housing for at least 20% of full-time employees
Location-Based Bonuses• Deep Poverty Pocket
• $1,500• Transit Oriented
Development• $2,000
• Mixed-Use Development• $500
Location-Based Incentives – Bonuses
Qualified Incentive Area ($500)• Planning Area 3 (Fringe)• Highlands Planning Area• Designated Area in Need of
Redevelopment/Rehabilitation
Priority Area ($3,000)• Planning Areas 1 and 2 • Port District• Designated Center• Deep Poverty Pocket• Transit Oriented Development
Location-Based Bonuses• Mixed-Use Development ($500)• Deep Poverty Pocket ($1,500)• Transit Oriented Development
($2,000)
Location-Based Incentives – Summary
Smart Growth Perspective
Somerset County Investment FrameworkFocuses investment using asset-based
criteria
Built upon updated planning policy framework
Emphasizes regional, interdependent opportunities
NJ Economic Opportunity Act
Broadens incentive eligibility to encourage growth
Uses traditional planning areas combined with
new economic-oriented policy areas
Emphasizes site-level, project-specific criteria
EOA Weighted toward Urban Areas• EOA incentives extend to areas where open space,
farmland and historic preservation are higher priorities
• EOA = tax incentives whereas CIF & CEDS are comprehensive
• EOA minimum capital investment is favors rehabCATEGORY MAXIMUM ANNUAL INCENTIVE
Garden State Growth Zone $30 million Urban Transit Hub $10 million Distressed Areas $80 million
Versus Priority Areas $4 million Other Eligible Areas $2.5 million
CATEGORY MAXIMUM ANNUAL INCENTIVE Industrial Rehab $20 /sq. ft. Office Rehab $40 /sq. ft.
Versus Industrial New $60 /sq. ft. Office New $120/ sq. ft.
FOR MORE INFORMATION, PLEASE CONTACT:
SOMERSET COUNTY PLANNING BOARDSomerset County Administration Building
20 Grove Street, P.O. Box 3000Somerville, NJ 08876
Phone: (908) 231-7021
Fax: (908) 707-1749E-mail: [email protected]
http://www.co.somerset.nj.us/planweb/index.htm