Redevelopment Investment Fund (RIF)
RIF provides flexible debt and equity financing for business and real estate ventures.
Through RIF, NJRA offers direct loans, real estate equity, loan guarantees, and other forms of credit enhancements. This initial program was created in 1996 through the New Jersey Redevelopment Act.
Urban Site Acquisition Program (NJUSA)
NJUSA, which is a revolving loan where funds are provided to facilitate the components of an urban redevelopment plan for acquisition and predevelopment of properties. NJUSA also provides for-profit and nonprofit developers and municipalities with bridge financing to acquire titles to property and other acquisition-related costs.
Affordable Housing Support Initiative – (ASHI)
The AHSI Program provides flexible financing to support the development, rehabilitation, and preservation of affordable housing. Financing may be utilized at various stages of an eligible project, including site preparation, new construction, substantial rehabilitation, and, where applicable, permanent financing. Eligible projects must include a qualifying affordable housing component and satisfy applicable NJRA program and underwriting requirements.
Working in Newark’s Neighborhoods (WINN)
WINN provides revolving loan fund that could be used for commercial and mixed-use projects directly related to comprehensive redevelopment initiatives within the City of Newark.
NJRA Bond Program
The Bond Program issues both taxable and tax-exempt bonds to stimulate revitalization in New Jersey’s urban areas. Bonds are issued at favorable interest rates to a broad range of qualified businesses and nonprofit organizations.
