Bill > S1794

This bill allows municipalities that are located next to two or more other municipalities, each of which contains an urban enterprise zone (a designated area intended to spur economic development), to qualify for financial assistance from the New Jersey Redevelopment Authority (NJRA), which is an independent agency that helps revitalize communities. Previously, a municipality needed to meet specific criteria to be considered "qualified" for NJRA financing, such as being eligible for special municipal aid or being part of a "special needs district" (a school district with specific educational challenges). This bill adds a new category of "qualified municipality" for those adjacent to two or more municipalities with urban enterprise zones, but it limits the NJRA projects in these newly eligible municipalities to those located on the border of an urban enterprise zone.