Office of the President

MEMORANDUM

To: NJIT Community

From: Robert A. Altenkirch

Date: Tuesday, February 7, 2006

Subject: Newark Downtown Redevelopment

You may have seen recently in The Star-Ledger, as recently as this morning, that the responsibility for oversight of the downtown redevelopment effort was transferred from the Newark Housing Authority to a newly formed corporation, the Newark Downtown Core Redevelopment Corporation (NDCRC). I was asked by the City, and agreed, to serve as NDCRC Chairman of the Board. Much of the organizational work on the Downtown Core Redevelopment Project is in place, and the work of the NDCRC is to oversee implementation. Newark Business Administrator Richard Monteilh will serve as NDCRC Executive Director responsible for its daily management activities.

The NDCRC effort is, in a sense, a continuation of my involvement on the Blue Ribbon Commission on Downtown Core Redevelopment, the Commission that advised the City on the economic impact of the Downtown Core Redevelopment Project and on the financial arrangements between the City and the New Jersey Devils. The Newark Arena is one element of this broader downtown redevelopment project.

We and others in the higher education community in Newark have been involved in various development efforts in the City, including, for example, Science Park. Redevelopment of Newark is important to all of us. As Newark works to improve the environment in the City and that in the University Heights area, the more attractive NJIT becomes to potential students and employees who will see NJIT’s location as a vibrant and attractive one in which to study, work, and live. We are pleased to be able to serve the community in these efforts.

Thanks,

Bob

View the Redevelopment Agreement (pdf, 3.9 MB)