PATERSON, NJ- Making good on his promise to utilize relationships he has developed with stakeholders and decision makers well beyond the city’s border, Mayor Andre Sayegh recently welcomed Tim Sullivan, CEO of the New Jersey Economic Development Authority (EDA), to Paterson.
A state agency which offers a range of resources to support small business growth, including low-interest loans and bond financing, the EDA also, according to their website, plays an important role in implementing major real estate development projects for established companies and governmental or not-for-profit organizations throughout New Jersey.
Following the meeting, which also included Paterson’s legislative delegation of Senator Nellie Pou, Assemblywoman Shavonda Sumter, and Assemblyman Benjie Wimberly, Sayegh told TAPinto Paterson that the group toured sites within the city which are slated for redevelopment with the support of $130 million in tax credits.
The proposed projects, Sayegh had said previously, include development around the Great Falls and the construction of a 12,000 seat arena, both of which would make Paterson a “destination for the right reasons.”
”Under Governor Murphy’s leadership, the EDA is committed to being a strong partner to New Jersey’s cities and local communities,” Sullivan said. “We appreciate the opportunity to meet with Mayor Sayegh and his team, and the Paterson legislative delegation, to learn more about the city’s priority projects as we work together to bring more jobs and economic opportunity to the Silk City.”