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New Jersey Performing Arts Center

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New Jersey Performing Arts Center
HR&A developed a long-term financial plan for this half-billion dollar performing arts project in Newark. This project included federal, state, city, and private funds made up of grants, bond financing, tax increment financing, and special assessments. It involved reviewing existing feasibility studies of entertainment facilities, researching potential funding sources, and assessing infrastructure requirements. In order to project a 30-year cash flow, HR&A developed detailed financial models and a phased schedule of four entertainment facilities. The firm also developed the concept of establishing a Tax Increment Financing District in Newark's downtown. The district capitalized on tax revenues using tax-exempt bond financing to help subsidize construction costs.


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