Examples of Municipal Revitalization Index in a sentence
The value of all tax credits approved by the authority under the program for a redevelopment project shall not exceed $50,000,000 per redevelopment project if located in a qualified incentive tract, government-restricted municipality, or municipality with a Municipal Revitalization Index distress score of at least 50, or $32,000,000 for any other redevelopment project.
The Agency also proposes to delete the current point system for proximity to employment centers and to replace it with DCA’s Municipal Revitalization Index, which is a comprehensive index based upon eight social, economic, physical, and fiscal metrics (including employment) and better evaluates the overall desirability and/or distress of municipalities.
For projects located outside of a Targeted Urban Municipality (TUM), a project that has a ranking of 283 or greater in the most recent Municipal Revitalization Index (MRI) published by the Department of Community Affairs (DCA) shall be eligible for three points.
NJ DCA, Municipal Revitalization Index, n.d. Retrieved from https://www.nj.gov/dca/home/MuniRevitIndex.html.
Selection criteria include: • Municipal Distress: The relative need of an applicant will be evaluated by using the Statewide Municipal Revitalization Index (MRI), which appears in the Small Cities Action Plan.