The Redevelopment Authority initially denied an RTK request for the plan on June 5, and The Times Herald appealed that decision to the open records office. Develcom of Bellmawr, N.J., will only invest $4 million (4 percent) of the projected $98,372,067 cost of the movie production studio/office/film school construction project, according to the TIF plan.
TIF guidelines in Montgomery County require a \”minimum 15 percent equity\” be committed by the owner to any TIF-financed project.
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