Comments on: Neptune Redevelopment Project Begins http://thecoaster.net/wordpress/2008/11/17/neptune-redevelopment-project-begins/ Your Community Newspaper covering the central Monmouth County area Mon, 21 Sep 2009 20:13:46 -0700 hourly 1 http://wordpress.org/?v=3.0.1 By: Clarifications http://thecoaster.net/wordpress/2008/11/17/neptune-redevelopment-project-begins/comment-page-1/#comment-37388 Clarifications Mon, 17 Nov 2008 23:46:44 +0000 http://thecoaster.net/wordpress/?p=4423#comment-37388 CityWorks is doing a fantastic job of bringing the neighborhood into the development process. Ms. Oliver is a trailblazer for the street and is to be commended. Also, please note that the businesses which were knocked down were FORMER businesses which have either opted to cease operations or move to better locations. There is also a large retail component to be included on West Lake Avenue for economic stimulation. Finally, the program used to finance this project was the New Markets Tax Credit program - a federal program whereby private investors are given a percentage tax credit for every dollar they put into a project. Commerce Bank (TD Bank) provided the dollars for this project and they should be applauded. All readers should alert their Congressman and Senators to fully support the New Markets Tax Credit program! CityWorks is doing a fantastic job of bringing the neighborhood into the development process. Ms. Oliver is a trailblazer for the street and is to be commended.

Also, please note that the businesses which were knocked down were FORMER businesses which have either opted to cease operations or move to better locations. There is also a large retail component to be included on West Lake Avenue for economic stimulation.

Finally, the program used to finance this project was the New Markets Tax Credit program – a federal program whereby private investors are given a percentage tax credit for every dollar they put into a project. Commerce Bank (TD Bank) provided the dollars for this project and they should be applauded. All readers should alert their Congressman and Senators to fully support the New Markets Tax Credit program!

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