1.  The Florio Administration Urban Economic Development Initiatives – Newark

2. What….no Funds??  1. Overview of the $224 million Economic Recovery Fund Law – Elizabeth Renaud  2. Economic Recovery Fund Projects – Caren Franzini  3. A success story…the NJ Performing Arts Center - Larry Goldman  4. Brief Overview - Newark Today – Caren Franzini

3. The Economic Recovery Fund

4. Economic Recovery Fund Projects  1. Economic Growth Fund for Business – Created Statewide Loan Pool with 12 NJ banks; $100 million Bond Pool to assist manufacturing companies  2. Economic Development Infrastructure - $17 million – Atlantic City International Airport  3. Cultural and Tourism Development - NJ Performing Arts Center; Strand Theater, Lakewood; Camden’s Sony-Pace Ampitheater; New Brunswick’s Civic Square

5. Economic Recovery Fund Projects  4. School Renovation and Repair - $45 million in ERF Funds leveraged $250 million loan program.  5. Environmental Clean Up - loans to businesses to clean up contaminated sites to allow for new development.  6. Shore Restoration - $15 million for shore protection

6. NJPAC – A success story

7. Downtown Newark Today  Prudential - $400 Million  Panasonic - $125 Million  Cablevision - $50 million  Teacher’s Village - $125 million  Dranoff-NJPAC - $100 million  Renovation Military Park - $3 million

8. Lessons Learned  Need Leadership, Direction and Focus – Governor Florio led the Team – state agencies worked together  Funding Infrastructure is key – cultural facilities; roads; airports; streets; beaches; water; sewer; site remediation  Utilize private sector approach – Leverage funds – need public/private partnerships