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There are examples nearby of how performing arts projects have been developed, and how the community (government, private developers, and citizens) is working together to make these economic engines become reality. There are no projects this developer knows of that are Real Estate Development Projects, and that is because none of them can work without significant public support. All of the ones we are aware of are Community Development Projects.
Two examples: Landis Theater – Vineland The City of Vineland’s Economic Development team in cooperation with the City of Vineland acquired the redevelopment site, and hired a developer to work alongside them in creating this Community Development Project. The developer is building the project(s) and managing the development. He has not used his own money, has no financial interest, and is being paid to provide these services. The initial phase of the project is the renovation of the old Landis Theater into a performing arts center. The budget is roughly 9 million dollars and the funds to build it and manage it come from a litany of public sources. The city, local Improvement Authority, and County are all focused on getting this deal done. Almost all of the financing, mostly free money, is in line and the project is expected to start in the near future. Levoy Theater – Millville A non-profit group has spearheaded the assembling of all the financing of this 8.5 million dollar performing arts center renovation. There is no developer, no private owner of the building, no equity from a private party. All the resources assembled to make this project work have been brought to bear by volunteers in cooperation with city, and county government. This is a Community Development Project and like the Landis is very close to being funded with almost entirely free money.
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