Strong Opportunity Zone Support from Municipalities of New Jersey

Officials of New Jersey municipalities met in Atlantic city on November 19 – 20 for the annual League of Municipalities convention. The conference presented an opportunity for representatives of municipal and private sectors to exchange ideas for the future. Two separate meetings were held that focused on Opportunity Zones in New Jersey. State officials including: Tim Sullivan, Executive Director NJDEA, Tai Cooper, Vice President NJEDA, Leslie Anderson, President of NJ Redevelopment Authority, Evan Weiss, Senior Policy Advisor to Governor Murphy, Chris Wheeler, Chief Data Officer NJDCA and Betsy Driver, Mayor of Flemington articulated a clear commitment to assist the private sector real estate and business community interested in developing properties and moving businesses to Opportunity Zones in New Jersey. High level State agency officials have established interagency communication and coordination to help streamline approvals and importantly help create capital stacks with other New Jersey programs to fund and support redevelopment and business activity in Opportunity Zones. The State has also developed a great online tool for the private sector to use to research Opportunity Zones in the State.

Mayors of some of the largest municipalities in New Jersey including Albert B. Kelly, Mayor of Bridgeton, Ras Baraka, Mayor of Newark and Andre Sayegh, Mayor of Patterson, expressed support of their municipalities to help facilitate fair and equitable development in Opportunity Zones. Many Opportunity Zone properties are located in historically industrial areas which may be subject to lingering and ongoing environmental concerns that will need to be addressed as part of the Opportunity Zone plan development.