Return To Teachers Village, Part II: Who's Teaching At Teachers Village?
Here's Part I of this series.
Just exactly how much money have taxpayers put into Teachers Village?
Between grants, tax breaks, and government-backed bonds, the public has paid quite a bit to make Teachers Village a reality. But what have they received in return? The developers of TV would have us believe they have, thanks to the largess of the taxpayers, created a new sort of complex that will attract and retain the sorts residents necessary for Newark's revival:The project received nearly $40 million in tax credits from the state Economic Development Authority and $60 million in federal New Markets tax credits as well as Qualified School Construction bonds. It also received public funding from Newark and the Casino Reinvestment Development Authority.Goldman Sachs, Prudential Financial, TD Bank, Brick City Development, New Jersey Community Capital and others provided private equity, as well as billionaire investor Nicholas Berggruen.
- See more at: http://jerseyjazzman.blogspot.com/2015/12/return-to-teachers-village-part-ii-whos.html#sthash.ABi7ClCu.dpufIf Ron Beit has his way, the next big thing in urban renewal won't come from any of the political elite or the CEOs in cocktail attire who gathered in a parking lot here Wednesday morning for the ribbon-cutting on his latest project.It will come from teachers.A founding partner and CEO of the Newark-based developer RBH Group, Beit said his shift in vision came from walking into THRIVE Academy, a charter school in Newark's central ward."I was blown away by the work they were doing," he recalled. "The teachers were really energizing, they were focusing on education -- I want to harness that energy. These people were top of the class, they could go anywhere for