A 2017 tax incentive provides opportunities to redirect capital gains into redevelopment projects to receive a reduction in tax liability. This financing tool has created opportunities for NJ Transit Villages to redevelop areas that have historically been underserved and neglected.
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Report link: Climate Investment Opportunities in Cities: An IFC Analysis
In late 2018, the International Finance Corporation (IFC) published the fourth report in its series on climate investment opportunities in developing regions across the globe. This year’s report addresses the opportunities available in urban markets, home to half the world’s population and producers of 70% of global carbon emissions.
The past five years have brought many changes to New Brunswick, NJ, notably, millions of dollars in redevelopment, new bicycling facilities and parks, and many new residents.
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Understanding the challenges and opportunities offered by adaptive reuse is helpful to communities looking to promote transit-friendly development.
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NJ news from Bloomfield, East Orange, Harrison, Newark, South Amboy, Westfield, and Wesmont Station in Wood-Ridge as well as equitable TOD and TOD apps.
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Governor Jon Corzine has signed the Urban Transit Hub Tax Credit Act to encourage redevelopment and job growth at locations served by transit.
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