Brick City Development Corporation (BCDC), Newark’s economic development catalyst, received the Gold Excellence Award for Public Private Partnerships by the International Economic Development Council (IEDC), in Washington, D.C for the redevelopment of 75 First Street as a 31,000-square-foot Food Depot Supermarket in the city’s Central Ward. The development is an important step in bringing affordable, healthy foods to Newark’s poorest neighborhoods under BCDC’s Fresh Foods Program, which was created in Newark to increase the number of fresh food retailers and the capacity of small groceries in the city to address the health effects of poor nutrition while spurring economic development.
The Gold Excellence Award for Public Private Partnerships is the highest level of achievement awarded by IEDC to an economic development organization for public-private partnerships.
Love and Long, L.L.P. provided legal representation to BCDC in structuring the financing, negotiating the transactional documents and closing the transaction.