Thank you. Thank you. Thank you all for coming. My name is Tim Henkel. I am CEO of Penrose. We are proud to be here today to celebrate this event. It's been as usual a long time coming, but this one is as a
product of ingenuity and product of really dedicated people Woodbridge Township and Middlesex County. We have a long list of people who will speak today and so I'm going to try and add them in between the speakers and fill in some of the blanks of what
has taken us to get here today. One thing I want to point out very specifically is this is the second building on this site and the other is is next door. All are here and welcome to not just observe the fact that we're breaking ground on a new project. But there is an existing affordable housing development
that's already in place and that's an accomplishment onto itself. First off in our order of speakers is is Mayor McCormick. I'm privileged to introduce Mayor McCormick who has been A >> [applause] >> LEADER OBVIOUSLY IN THE TOWNSHIP BUT A LEADER YOU KNOW within the development
redevelopment and affordable housing world. He's someone that we can always look to. He kicks the tires and I remember before we did this project over here, he came and kicked the tires at one of our projects, showed up 15 minutes before our scheduled appointment to make sure that I wasn't stacking the
deck and and met one of our residents out front who probably gave the best testimonial ever given. So good that he thought I had like stocked the pond with her and I >> That's all my speech man. You're killing me. >> [laughter] >> I love him. I like him. I THANKS PAL.
>> [applause] [cheering] >> IT GIVES ME GREAT PLEASURE TO WELCOME EVERYONE to a true veterans town here in Woodbridge. We have six active VFW posts, three active American Legion posts, the Kevin J. Reinhardt Detachment of the Marine Corps League, a local chapter of the Disabled American
Veterans and the Monfort Point Marines all working together under our Veterans Alliance headed by George Sneff at the end here who does an amazing job making sure our veterans get what they need from these organizations. Being the former state commander of the New Jersey
Disabled American Veterans gives him the experience to organize our posts locally and introduce them to statewide resources that they never knew about. We have a terrific Veterans Day parade, somber Veterans Day luncheon, annual support the troops rally for those still
serving and last year we hosted the statewide Veterans Forum at our community center led by Jeff Caner, the head of the New Jersey Statewide Veterans Chamber of Commerce. On Veterans Day, dozens of veterans visit our 24 schools to talk about their experiences with the students and
teachers and they all love it. We would like to thank Penrose Properties for their investment once again in Woodbridge Township after they opened the building next door in October of 2019 which dedicated 25% of the apartments there to our special needs population.
When they came to us, we knew we had to check them out. So Carol Orlick, our Chief of Staff and Redevelopment Agency Director and I drove to their Old Bridge facility and just walked around and randomly spoke to their tenants without even saying who we were and what we found was that everyone we talked to
loved living there and we were sold. What we love best about this project is not just that it provides 60 beds of much needed veterans housing for those in our town and in our state but the fact that the programs and services needed by these veterans will be provided right here through Soldier
On, another group we checked out only to see them pass with flying colors. No longer will these worthy vets need to travel to see the various medical professionals they need because these providers can just meet them in the lobby or go to their room. We also have six senior housing
complexes run by the Woodbridge Housing Authority and four run privately and they all have veterans living there comfortably but without direct access to the programs and services they need. Now we can offer them the chance to move here and be with fellow veterans and
have experienced professionals in dealing with veterans issues right at their fingertips in the building they live in. This complex is appropriately named for Carl E. Peterson, a Congressional Medal of Honor recipient who lives in the lived in the Avenel section of
Woodbridge. I also have a proclamation from Senator Palone. It says everything I just said, but he is a congressman so I have to read it or I'll be in trouble. >> [clears throat] >> From Congressman Palone. It is with pleasure that I write today in celebration of the groundbreaking of
Peterson Commons. I would like to thank you for the invitation to participate in this special occasion and regret that I'm unable to join you today. >> [clears throat] >> Today's groundbreaking marks the beginning of construction of a newly developed affordable housing community for veterans. Named in honor of Carl Peterson, a local resident and World War
I Medal of Honor recipient, this project reflects a deep community promise to serve seniors and veterans. I would like to thank Penrose, the Township of Woodbridge and all those involved for their efforts to provide permanent and supportive housing for our most vulnerable residents. The 60 units along with on-site supportive services brought
by a partnership with Soldier On, Soldier On is an important step in safeguarding the well-being of our veterans. I am committed to continuing my work in the House of Representatives to ensure that our veterans have the necessary resources for healthy secure living. Once again, I would like to commend
everyone gathered here today for their work on behalf of the community. I am confident that this development will be a valuable resource to our state's veterans. From Congressman Palone. THANK YOU, CONGRESSMAN. >> [applause] >> I JUST WANT TO QUICKLY THANK THE WOODBRIDGE STAFF that put this all
together. Megan's our Deputy Communications Director. Kelly's our assistant. Councilman Corey Spillers here. We have several other Woodbridge officials here and thank them for everything. So now, since we are in a veterans town it is only appropriate that we welcome
to Woodbridge a true veterans governor in New Jersey Governor Mikey Sherrill. Governor Sherrill's commitment to veterans began during her term in Congress where she voted for tens of millions of dollars in federal funding for the HUD VASH program which helps at-risk veterans secure permanent
housing. Now here she is doing the same thing in New Jersey. She fought for the PACT Act which expanded health care to 3.5 million veterans exposed to toxic burn pits and she helped enact the Blue Water Navy Act which finally expanded health benefits
for many Vietnam veterans. Just look at her recently introduced state budget and you will see an additional $11 million dollar commitment for the Bringing Veterans Home project to end veterans homelessness. Here she is supporting this project that does exactly the same
thing. Her budget supports affordable housing all over New Jersey for all residents by reducing diversions from the Affordable Housing Trust Funds because a greater supply of affordable housing keeps costs down for those who need it. Her budget also increases the down payment
assistance program by $5 million to help more families afford their first home. Ladies and gentlemen, it truly gives us great pleasure to thank the State of New Jersey for supporting this wonderful project and I'd like to welcome to our groundbreaking ceremony New Jersey
Governor Mikey Sherrill. >> [applause] >> Wow, thank you guys and thanks so much, Mayor. I really appreciate it. Thanks, Tim and all of the representatives from Penrose. I want to thank our speaker for being here today as well as the Commissioners Rios and
Kenny. I also want to thank our friends from the Housing Mortgage and Finance Agency, the Economic Development Authority, Hudson Housing Capital and Woodbridge Township. You know, these projects are so incredibly important to me. It feels
very personal. Over Easter weekend, I was just visiting the Naval Academy and I had a little bit of time to kill before a meeting I had. And so I was in Memorial Hall. And it listed all of the Naval Academy
graduates who had died in different wars. And as you can imagine, certain years the list was quite long and lengthy. And recent years, people I knew who died in Iraq and Afghanistan. And beyond those lists of people who had
been killed in combat are all the many other veterans who have served but have done tough duty and sort of paid the price really for the rest of their lives with some of the scars that can never be healed from that type of work. And I am always so upset that we can put
trillions of dollars into defense spending and yet when it comes to then caring for veterans who have really been at the front lines fighting those wars in the aftermath of those scars created by combat
sometimes self help and support is really hard to come by. And so I've advocated for my entire career that we think of the aftermath of these wars and make sure that we are caring for those who serve.
Because as we look to the future I won't go into my feelings on what's going on in Iran, but I will tell you that the service members who served there deserve to be cared for and taken care of no matter what they face. And that's something that I will constantly advocate for and ensure here
in New Jersey we're fighting for. So as you heard, we just passed an incredibly difficult budget. We were being hit from the federal government and we didn't pass it. Sorry, Mr. Speaker. >> [laughter] >> I'm speaking that into the universe.
I'm speaking it into the universe. >> [laughter] >> We are working hard for the future. Um, but what we didn't do is cut back on a lot of the support we have uh for our veterans here because we've also seen an affordability crisis across the country
and certainly across our state. And when we look at some of the housing numbers and the people who are finding it unaffordable to stay in their homes, uh we certainly see problems with young people being able to afford to stay here, but our seniors are also getting
hit incredibly hard. People on a fixed income and suddenly costs go up who can't really manage that change. Um, and one of the areas of concern is certainly senior veterans uh who have struggled in this area. And I
just talked to a gentleman, Scott, who was a sharpshooter uh serving in Lebanon right before Beirut was attacked. And um he was injured. And so for 20 years he really struggled. Uh he and his sister lived in a I I said
at the last veterans event I was in in Montville this past month, he said I said it was mouse and you know, mice infested and he said it was rat infested. He said it was even worse, but they recently lost even that home that they were struggling to keep up with. And so um because of this support,
because of another veterans project, he and his sister were able to move into an apartment. And this home is going to provide that same kind of security to some of our community members. And to hear the other types of support that Woodbridge would bridge provides,
I always say I love all my children, so I don't like to pick and choose the best municipalities in the state of New Jersey. Um, I will tell you the mayor feels no such compunction and he said this is the best municipality in the state of New Jersey. And certainly tracing all of the
commu- all the ways the community is pushed into support our veterans is one great sign of a really thriving community. So I just want to thank everyone who's been a part of this project, everyone who continues to support all of the people who've served, and everyone who continues to work hard
to address the affordable housing crisis that we have in this state, uh the affordability crisis that we have in this state. And I look forward to the day when we pass a really great budget, right, Mr. Speaker? >> [laughter] >> It's coming. It's coming. It's coming.
Um, but thank you all so much. I sincerely appreciate you having me here today for this wonderful event. THANKS AGAIN. >> [applause] [applause] >> WELL, THANK YOU, GOVERNOR. THANK YOU FOR BEING HERE. Um I think we've Your remarks echo Governor the candidate, the
nominee, governor-elect, the governor of passing a budget. Um, you know, as it relates to housing affordability, affordability in general. Um, so I think this is our welcome to you to kind of the supply side of that conversation. You know, the demand is is well documented and and well noted and
and the people have spoken um in responding to your your messages. And so as we, you know, work hard here to supply affordable housing through through, you know, through the engine of the speaker list that's here, um it's important to acknowledge, you know, how much work is going into it. And on
behalf of veterans, your remarks, you know, caught me I had a conversation with George and his wife over here. Um, and I I'll do this poorly because these are your words, but he spoke about the um the meaningfulness of being under the arms of a building named after a veteran. And, you know, as I hear you
speak, I'm thinking, well, that is about the least we can do. Um, and if we don't do the least, you know, we're really falling short. And so thank you for that. Your words will stick with me for a long time and I really appreciate it. Um uh it's my honor next to speak, you know, to introduce um uh the speaker of
the General Assembly, um a resident of Woodbridge, um who uh I've had the pleasure of uh appearing with a number of times. So um what that means is that we're producing and uh and you're a big part of it. So come on up here, sir. >> [applause] >> Well, when when you said we were we've
been performing together a couple of times, I thought we were forming a little duet. Maybe we'll take this act on the road, which wouldn't be a bad thing, right? Uh this is a terrific day, a special day. Governor, the mayor whispered to me that $10 million more for Woodbridge in the budget would go a long way
>> [laughter] >> to him convincing his very dear friend Craig Coughlin to be here. But we digress. Uh welcome everybody. It's great to be here. Let me I I don't think she was mentioned before, but she was here. Nancy Pinkin is here. Thank you, our county clerk, for being here. On behalf of my
colleague, if she is, Nancy, thank you. On behalf of my colleagues, Senator Vitale and Assemblywoman Lopez, both of whom couldn't be here, both of whom send their best wishes and congratulations. This is really a special day. It's a special day because the sun is shining. It's finally feeling like spring. I don't have to wear a topcoat. I don't
have to complain about the weather. But it's but also a special day because it does so much for the community. And it's a demonstration of all that we can do together. There are millions of dollars invested in this program both from governmental funds and from the developer. So Penrose, thank you for
your commitment. Thank you to Jonathan uh HMFA for the work that you have done in bringing home the the dollars. Thank you to Mayor McCormick for the work that he has done. You know, Woodbridge is a place that gets things done. It's a place that makes things happen. We're getting we're heading into the music
season here in Woodbridge. Once we turn the corner of of Memorial Day, we have music literally every day in one place or another throughout the township. Literally every day, Governor. Uh and and so it's it's the kind of place where they care about the people and care about getting things done.
It's also a special day because for the first time during the time she's the governor, Governor Sheila's with us. And that is no that is a really special thing, Governor. Thank you for being here. Thank you for caring about Woodbridge, caring about our veterans, caring about our seniors, and mostly recognizing that this is such a great
project uh because of what it does. It achieves an awful lot. We talk about veterans and the contributions that they make. I think all of us who know them know that they continue to serve even after they're out of the military and after their service to the nation is done by
serving their communities. You know, I do a lot of work around food insecurity as most of you know. And if you go to a food pantry, you're likely to find a veteran volunteer. You're also likely to find them in in places like helping to run the veterans organizations to make sure that the community continues to
recognize their great contributions and what they do. This is an extension of that. And what I'm going to leave it to my friend Ron Rios to talk about what veterans homelessness means. It's something he's championed now for a number of years and it's going to be on on display right here when we move some
of these units for for homeless veterans. But it's it's a combination of things that really make a difference because another group that also continues to serve the communities that they helped build, the communities that they love, are senior citizens. And so senior veterans is a real double double
treat for all of us. And that's why this place is going to be special. And that's why today is so exciting because it demonstrates that when we put our minds together and we work really hard and we have common goals and we care about important things, then we're going to get it done. And so I look forward to
being here. It's you know, we have we have really sort of perfected this in the political world. This is the first groundbreaking. There will be another one as we get to the last stone. There'll be one when we open the door actually for the first tenant. And there'll be one right after that just for the hell of it. So this is the
beginning of a process, but something that really will tells the people of Woodbridge, the people of New Jersey that we're addressing those concerns. Governor talked about it. We all know we have a a housing shortage, a particularly affordable housing shortage in the state of New Jersey. We've done some good work
legislatively. The bill we passed A4 will is anticipated to bring 50,000 units of of low and moderate income housing over the course of the next decade. But we know that that's kind of a good start. We need to continue to work on it. Places like this are going to make a difference. It means so much to the
people who will live here, right? We all know about the comforts of home. There's no place like home. Wherever you go, I love to go away. I love to travel, but there's nothing like walking through the front door and being home again. It is a special place and for so many people, we're going to offer now the opportunity
to share that very safe and secure feeling right here in Woodbridge where they love to be. Thank you all for coming. Thank you all for what you have done. You're going to be a great great Thank you, Governor, for being here. Go get to work on that budget, okay? >> [applause] >> As you've heard, Senator Vitale is not
with us today and has sent his regrets. So I'm going to take a little moment here to grab part of his agenda and just um refer you to the back of your program and look at the development team. Just um make sure we understand the kind of the team that put this together. Um Mary Johannessen is here from Thriven. You
can wave your hand. You know, some of the team members are here who's done the architectural design. And particularly want to um look over and speak to the guys from Arc. Um you know, they're wearing the reflective vests. Those are safety vests. Construction remains um a risky profession. Um and you know, I always like to make
sure at groundbreaking events that we um wish them safe travels, Godspeed on the way. Um I know how much work goes into making sure we build a quality building, but also build it safely. And um you know, thank you. We've had great success with our builders.
>> [applause] >> Um next it's my pleasure to introduce um County Commissioner Director um Ron Rios. Um Middlesex County Middlesex County has been a stalwart supporter of affordable housing a reliable well of of meaningful contributions in
support. So it's it's wonderful to have you here again. Thank you, sir. Thank you. >> [applause] >> Thank you. Good morning, everyone. Governor, it's a pleasure that you come to Woodbridge, the best town around in the best county around.
Just saying. But we thank you also for your service to our country. Thank you. I'm honored to be here today as we celebrate the groundbreaking of this new housing complex for veterans. Veterans are a special place in our heart in Middlesex County and I can assure you
that. We owe the brave men and women who served in our armed forces a debt of gratitude. They took an oath to protect our nation and our democracy and they did their part. Now it's our turn to do our part by providing the services and support our veterans need.
That includes housing. The 60 60 units that will be built here by Woodbridge Township will be offered safe comfortable space for those who have served our nation. At the county level, we too are proud to serve our veterans and their families
every single day. Through our veteran services program, we connect veterans and their families with services such as affordable housing, security deposits, food assistance, mental health care, resume building and job placement. We work closely with
local, state, and federal partners to secure these services for our veterans. And we were recognized by Michelle Obama when she was still first lady that we had zero homelessness in
Middlesex County with all the services that we provide for our veterans. >> [applause] >> With this new housing complex when this new housing complex is near completion, our veteran services staff will uh share information about it so veterans
who are seniors may be able to take advantage of this housing opportunity. So on behalf of the entire Board of County Commissioners, I congratulate Woodbridge Township particularly Mayor McCormick and the town council and all the partners involved in this project on today's
groundbreaking and thank them for their ongoing commitment to serving those who have served our nation. This project will make a tremendous difference in the lives of so many veterans. And of course, to any veterans and current service members who are here
with us today, thank you so much for your service to our country. Your dedication and bravery are remembered and appreciated always. And thank you to the families of the veterans because they sacrificed as well. I look forward to seeing this housing
complex rise up and become home for so many veterans. THANK YOU. >> [applause] >> WE'VE REACHED THE CAPITAL PARTNER SECTION of our agenda. And uh we'll start right from the top with a different kind of veteran. Uh Melanie Walters been executive director
of the NJHMFA for 5 years. >> [laughter] >> Um and I've had the pleasure of of really participating as a as a partner uh within NJHMFA during that period. I find Melanie to be a curious collaborator in the process of
figuring out how we can do it better, do it faster all on behalf of doing more. The production side of the affordable housing industry is incredibly challenged by interest rates and tax credit pricing and all those kinds of things. Um and um we're really fortunate to have your
leadership. Come on up. >> [applause] >> The thing about affordable housing is that you get the chance to see a community rise from the ground. If you look behind you, that was the same pile of dirt we see here 2 years ago. Uh and now that's 170 homes for families.
Uh and now we're building a senior community and a veteran community. What does that do? That creates a an intergenerational community that didn't exist 2 years ago. Um and so it's really an exciting thing to come out to see the start of something new, but to share it
with the possibility that was that now is. And um realize that you're inviting veterans into a space where they're going to continue to contribute. Kids from that neighborhood are going to wander through this complex, get to know the seniors in their neighborhood like we all did as kids. Um
when you talk about military families, they move a lot. >> [laughter] >> Um I I used to laugh that my husband could pack everything he owned into two duffel bags in the back of his car and I had more sweaters than that. But you move and you move and you move and you learn to get it all down into a few
small boxes. Well, when that stops, you've served your country, you're trying to put together your resume. How do you describe anti-mortar work in Iraq on a resume? Great attention to detail, technical skills? I don't know. It's trying to build and get a fresh start in
a new community and a new space. That puts you at an advantage because you have the structure and the history of military service, but it also puts you at a disadvantage because of that instability. Where's home? Where's community? Where are those supports? Woodbridge does an amazing job of providing that support. And so building
up a beautiful new veterans building here allows us to ensure that veterans who have served throughout their lives in their community in the military have the opportunity to have a real permanent home. Buy that couch, you know. Um set up those lamps, have that home
knowing that you don't have to leave again. That this is a beautiful brand new place. This is housing that you can have for the rest of your life if you so choose. Um that's incredibly meaningful for anyone. It's particularly meaningful to people who have served and had to go through that transition over and over
and over again to know that they're really home. So this project is is beautiful and it's going to be a really meaningful and exciting end result. So I'm so glad to be here with you at the beginning. Looking forward to returning to see the ribbon cutting at the end. THANKS.
>> [applause] >> THANKS, MELANIE. UH I'M GOING TO GRAB A LITTLE MORE OF THIS agenda and just ask the people from Soldier On who we've been talking about to raise your hands. So five people from Soldier On here. >> [applause] >> Um There's a genuine, meaningful, real,
tangible nonprofit committed to this space, you know, which is to suggest that not all are. Um and they've really uh accomplished quite a bit. At this moment where we're opening this groundbreaking this project, we're working on the closing of another project in Boston, Mass with these same people who are here today. Um and so you
kind of see the reach and the the replicability of of that partnership. Um it's one that we value quite a bit and I'm really happy that you're all here with us today. Thank you. It's an exciting day for us here, Evan. We get to almost simultaneously congratulate you, welcome you, and uh invite you to speak. Um the brand new CEO of of the
New Jersey Economic Development Authority. Well, I guess not brand new, but um pretty close. >> [laughter] >> Um uh the EDA um is administering, you know, particularly, you know, many things, but on behalf of this project, the Aspire tax credit program and evolution of the New Jersey state tax
credits become very muscular, very powerful uh element of the redevelopment process here in New Jersey. And um the collaboration between NJEDA and NJHMFA has smoothed so much over the past years and I know you've been a big part of that. Um it helps us get to these closings quickly and we really
appreciate it. Thank you for being here. >> [applause] >> I thought we could start with um some tax credit trivia if people are game. Um you all get one chance. Okay, just one. Um three questions. So the first question is which county in New Jersey
has the most Aspire tax credit awards? Okay, you got it. Whoops. I was going to say Essex. Essex is second. Middlesex is first. Um which has the most under construction? Which county? Middlesex. Okay. And this isn't part of the trivia, but Woodbridge is one of the few places that
has more than one. Uh two projects including an amazing one at Metro Park, one of I think one of the most interesting multi-modal projects that we have. The third is how does this happen? And I'll answer that. It's kind of who you see here. All the different partners who worked on a project like this. He
didn't go into it, but these tax credits, I think you said they're they're strong, they're muscular, but they're extremely complicated. They're very, very hard to use and to pull off with something like this. And speaking as EDA, but most of our projects cannot happen without HMFA. The partnership
that we have with HMFA allows things like this to occur. Us working on our selves can't get this done. One thing I've learned from working with the governor um is just to never quite be satisfied, to always ask what can we do more, what can we do next? I know from hearing today and in our own pipeline,
this won't be the last uh project we have in Middlesex or in Woodbridge. So given I'm new, really looking for feedback from all of you. We just don't want to accept the current way of doing things. Again, we got here. It's a huge accomplishment, but I know we can do so much more um you
know, in the next several years uh in the governor's administration. The last thing, I didn't realize this actually. Um my mom was a psychiatric emergency services worker. She used to be on rotation sometimes in the prison that is right there. And um she worked with a
lot of veterans, uh particularly veterans at the time from the Vietnam era suffering from schizophrenia. Um many of the as I mentioned earlier could be homeless. Um she's not with us any longer, but the fact that this is happening, um I think she would have
just been so, yeah, just wowed by this. Um too many people wound up in that prison who, you know, should have been living in a housing like we're building here today. So, extra meaningful. I didn't even realize it until when I was driving up today. So, just a huge accomplishment, um to everybody that's part of this. So, thank
you. >> [applause] >> ANOTHER INSERTION HERE. I'D LIKE TO ACKNOWLEDGE THE STAFF of uh Penrose Management Company. These folks back here in the corner, all dressed in red, accidentally, they told me. Um >> [applause and cheering] >> Our folks have managed next door, but
also throughout in the projects that uh the mayor mentioned in Woodbridge. Um they're a tight unit, um and, you know, what we deliver is nothing unless we maintain it, operate it, and deliver that experience to the residents. Um I'm proud of you guys. I'm proud of uh what you've accomplished. So, thank you for being here. Um I'm going to invite up uh
Kim McCameron from Hudson. Kim is a uh a long-time partner and friend. >> [applause] >> Responsible for syndicating our tax credits. Thank you, Tim. Pleasure to be here. Thank you, Governor, and everybody that spoke before me. They're all much more eloquent speakers than I am.
But, I want to say that uh we are pleased to be a part of yet another uh Penrose transaction, another New Jersey deal, another Aspire and tax credit transaction. And and um then many veterans prop developments as well. And
we're on the Soldier One property in Boston as well. Um It's just so It strikes me as the affordability, those the veterans, and all the people that are that need the affordable housing, and they work harder than I know that
I have since I was carrying bricks when I was 18 years old, and haven't done that much since then. And I just always appreciate that they have a harder life. And to have um a home that they can come to, cuz these are they're apartments. They have kitchens and baths and all
that stuff, but they're homes. And that was mentioned earlier, and that is um we were at a something in New York at a veterans things, and and uh one of the one of the um speakers that said, "When you're homeless, you spend your
whole day, where am I going to sleep? How am I going to get a hot dog? Where am I going to get something to eat?" It's much more expensive. It's much more damaging, and that's a full-time job just to understand what that is. And when you have a home, that gives people time, that's some
rest, stress relief, re- relief, and um I say, yeah, we're very happy to be part of this. Our partners were J.P. Morgan Chase. Uh We It's about $20 million, about half in Aspire credits and half in low-income
housing tax credit equity. Uh which uh they're dollar They're dollars, they're numbers, they're important, but really what's being built here is is very It's heartwarming. So, thank you to our partner and friend, Tim and Penrose. And
I hope everybody has a wonderful day. Thank you. >> [applause] >> UM THE LAST GROUP I'D LIKE TO EMBARRASS, UM IF I COULD, is the development staff of Penrose who are here. Kelly Young, Lindsay Samsey, Charlie Adams, our president, um Margot Ratliff.
Lamata Santa. You didn't think I was going to forget your name, did you? Um these are people who are very, you know, we talked about the complexity. Evan, you know, talked about the difficulty and the collaboration it takes to coordinate tax credits and underwrite the deal and get it to closing and to invite Chase Bank to purchase the low-income housing tax credits, the Aspire tax credits. These
are the people who are keeping their heads down, grinding through this stuff. Um sometimes not very rewarding experience. Today is your reward. Uh as is that moment when people move in. And so, um you know, I'd like to take a deep breath, and it's nice that it's on a sunny Friday, um
uh to acknowledge them. Um Last, somehow, on our speaker list is Carolyn Ehrlich, um who is old is Woodbridge. I mean, my goodness. Uh when you walked up here today, I was like, here we are again. Um but very, very instrumental in um
I I think navigating, you know, the waters. Um you know, what happens at at the municipal level is is complicated. It's um and it's hard to manage, and you, exactly by title, manage exactly that. So, come on up here, Carolyn.
>> [applause] >> There's a rule in public speaking that when you're the last speaker, you have to have the shortest speech. So, I promise you I do. Um we can truly never do enough for our veterans. So, we were so excited when
Penrose chose Avenel to construct this veteran housing. And me, along with Marta Lasky, the um director of planning, and Marta and Heather Lomax, who is the um deputy director of redevelopment, we
will be with you every step of the way through construction to make sure that everything goes smoothly. But, we're not going to stop when the construction is done, because as Evan mentioned, when you get an Aspire grant, normally, you
have to give a community contribution. But, because this is a nonprofit project, you didn't require that. Well, we decided to. And so, the um Penrose has agreed to provide us with community
veteran services for every veteran in town, not just the ones who are living here. And we ARE VERY EXCITED. [applause] SO, THE MAYOR AND I, and third ward councilman, Corey, Corey, will be working on that. So,
thank you, everybody, and have A GREAT TIME. >> [applause] >> OKAY, AS WE WRAP UP, I'LL UH VERY, VERY BRIEF, I promise, closing remarks. Um but really to pick up on what Carolyn said. We are often with our projects trying to make sure that we're
exaggerating the impact. We will We will clearly put 60 units of housing in. Um but how we then use this as a venue for the community to deliver more, more services to veterans, you know, more opportunities, um is, you know, is something that when you're shepherded well, um by a township
that really wants to maximize the impact, um we're able to do that. So, I'm really excited about that. So, the project started in December 25th, like the very end of the year. Um it will complete in April of next year. So, we're a little a little around a year away. Um so, we'll expect you all back. You
know, mark your calendars. Um and uh I want to make sure that the invitation is extended to visit the building next door to, you know, you'll see a very a very like, you know, kind of product of exactly what we're what we'll be delivering here.