NJEDA seeks additional public feedback for Aspire Program Rules

Public can submit input until October 28, 2022

The New Jersey Economic Development Authority (NJEDA) today announced that it is seeking public input on a revised set of rules for the Aspire Program, which was established under the New Jersey Economic Recovery Act of 2020 (ERA). The Aspire Program is a gap financing tool to support commercial, mixed use, and residential real estate development projects.

The current draft of the Aspire Program rules incorporates feedback collected during a public comment process that took place earlier this year. Members of the public are encouraged to review the draft posted today.  Any feedback must be submitted in writing through the designated online form available on the ERA website. The NJEDA will be accepting comments until Friday, October 28, 2022 at 3:00 p.m. EDT.

The document posted today is a draft of the Aspire Program rule amendments, which will be presented to the NJEDA Board, with any final edits, for its review and consideration for approval.  If approved, the document will be published for the formal public comment period, as designated by the Administrative Procedure Act.

For more information on the ERA or to submit feedback, please visit www.njeda.com/economicrecoveryact.

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

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