Carrino Plaza Apartments, LLC

224 Pages·2015·15.19 MB·English

by  Default User

MEMORANDUM

TO: Members of the Authority

FROM: Melissa Orsen
Chief Executive Officer

DATE: April 14, 2015

SUBJECT: Agenda for Board Meeting of the Authority April 14, 2015

Notice of Public Meeting

Roll Call

Approval of Previous Month’s Minutes

Chief Executive Officer’s Monthly Report to the Board

Authority Matters

Incentive Programs

Bond Projects

Loans/Grants/Guarantees

Office of Recovery

Board Memorandums

Real Estate

Executive Session

Public Comment

Adjournment

BOND PROJECTS

Combination Preliminary and Bond Resolutions

ITEM: Ben Porat Yosef, Inc. APPL.#40565
LOCATION: Paramus/Bergen
PROCEEDS FOR: Acquisition of existing building/Refinancing
FINANCING: $7,875,000 Tax-exempt Bond / $135,000 Taxable Bond
MOTION TO APPROVE: Mr. Stoller SECOND: Mr. Alagia AYES: 12
RESOLUTION ATTACHED AND MARKED EXHIBIT: 13
PUBLIC HEARING: Yes
PUBLIC COMMENT: None

Mr. Imperatore left the call at this time.

ITEM: Provident Group – Rowan Properties LLC APPL.#40570
LOCATION: Glassboro/Gloucester
PROCEEDS FOR: Construction of new building or addition/Purchase of equipment &
machinery
FINANCING: $144,000,000 Tax-exempt Bond / $1,000,000 Taxable Bond
MOTION TO APPROVE: Mr. Dumont SECOND: Ms. Kokas AYES: 11
RESOLUTION ATTACHED AND MARKED EXHIBIT: 14
PUBLIC HEARING: Yes
PUBLIC COMMENT: None

REAL ESTATE

ITEM: Higher Education Public Private Partnership Program
Rowan University – Student Dormitory and Dining Facility
REQUEST: To approve Rowan’s University’s application to develop a 742 unit freshman
dormitory on 8.38 acres on the applicant’s campus under the Higher Education
Private Public Partnership Program.
MOTION TO APPROVE: Mr. Alagia SECOND: Mr. Stoller AYES: 11
RESOLUTION ATTACHED AND MARKED EXHIBIT: 15

Combination Preliminary and Bond Resolutions

ITEM: Puerto Rican Organization for Community Education and Economic Development
APPL.#40507
LOCATION: Elizabeth/Union
PROCEEDS FOR: Refinancing
FINANCING: $2,500,000 Tax-exempt Bond
MOTION TO APPROVE: Mr. Stoller SECOND: Ms. Kokas AYES: 11
RESOLUTION ATTACHED AND MARKED EXHIBIT: 16
PUBLIC HEARING: Yes
PUBLIC COMMENT: None

MEMORANDUM

TO: Members of the Authority

FROM: Melissa J. Orsen
Chief Executive Officer

DATE: April 14, 2015

RE: Monthly Report to the Board

THIRD FOUNDERS & FUNDERS EVENT CONNECTS ENTREPRENEURS AND INVESTORS

The EDA hosted its third Founders and Funders event on March 10, providing 30 entrepreneurs and
emerging companies with access to angel and venture capital investors. Held at the
Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, the event
introduced the startup companies to more than 20 prospective investors, including Edison Partners,
the NJIT Highlanders Angel Network, and Rostra Capital.

At the event, a diverse range of technology and biotechnology companies met with investors in 10-
minute, one-on-one sessions to discuss strategy, business models and funding opportunities.
Attendees included Gold Mobile, a Clark-based company that provides a cloud-based platform to
enhance a business’s mobile ordering, payment, and loyalty programs; NeedMe of Red Bank, which
is developing a website where people can meet others with similar medical diagnosis, medications
and procedures; Arkay Therapeutics, a life sciences company located in East Windsor focused on
developing drugs to treat diabetes; and CCIT tenant BioAegis Therapeutics, which creates products
that restore depleted levels of plasma gelsolin.

The EDA plans to host Founders & Funders semi-annually, and the next event is scheduled for
September.

HOTEL INDIGO CELEBRATES OPENING IN NEWARK

InterContinental Hotel Group unveiled its Hotel Indigo Downtown Newark during an official ribbon
cutting ceremony last month. The 108-room boutique hotel represents the re-creation and re-
purposing of the historic National State Bank building located at 810 Broad Street. The hotel is a
joint venture with local developers Samer and Thafer Hanini of the Hanini Group and Islam
Zughayer. The property is managed by Crestline Hotels & Resorts and is franchised by an affiliate of
InterContinental Hotel Group.