NJ S4388

Grants the Capital City Redevelopment Corporation new authority to directly issue loans and grants to projects within the Capital City District (Trenton area) that align with the corporation's statutory purposes

Modifies the Capital City Redevelopment Loan and Grant Fund to clarify that loan repayments from fund-financed projects and investment income from fund deposits are included in the revolving fund

Removes the previous requirement that at least 65% of appropriated monies to the fund must be recovered and remain available for future financing

Updates statutory language throughout P.L.1987, c.58 to modernize terminology and add technical corrections (e.g., changing "moneys" to "monies," adding serial commas)

Allows the corporation greater flexibility in determining financing terms for projects, requiring only that interest rates be sufficiently below prevailing rates to attract private participation