The New Jersey Economic Development Authority (NJEDA) has announced a public hearing scheduled for February 12, 2025. The meeting will take place at the NJEDA offices in Trenton and via teleconference. The purpose of the hearing is to allow interested parties to express their views on a proposed bond issuance by the Authority.
The bonds are intended to finance various projects at the Repauno Port & Rail Terminal in Gibbstown, New Jersey. These projects include expanding and renovating dock facilities, constructing new loading arms, and installing a cryogenic tank for storing bulk liquid products. The financing will also cover costs related to issuing the bonds and funding reserve accounts.
The Series 2025 Facilities will be leased by NJEDA from DRP Urban Renewal 4, LLC, with Delaware River Partners LLC managing operations. The terminal is located on a former DuPont chemical manufacturing site and spans approximately 1,630 acres.
The maximum aggregate face amount of bonds requested is $350 million.
