Rutgers University-Camden Awards Construction Contract to New Brunswick Development Corporation (March 2026)

Scope & details

The full contract record, as filed.

Contract amount

Spending authority up to $41.2 million for Rutgers research portion of H-3; expects $31.4 million Aspire Tax Credits netting approximately $28.3 million

Contract type

CONSTRUCTION

Contract term

Aspire Tax Credit term of 10 years; Rutgers to obtain fee simple title to its portion after Aspire compliance period and full satisfaction or refunding of long-term debt

Renewal

Master lease converts to fee simple ownership for $1.00 after Aspire Tax Credit compliance period ends and all conduit debt is repaid or refunded; additional related development, leasing, and guarantee agreements are authorized as needed.

Document type

Minutes

Source document

Rutgers, The State University of New Jersey Board of Trustees Minutes 2026-03-05

Related contracts

Other contracts from New Brunswick Development Corporation.

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City of New Brunswick Council Agenda 2026-06-03

APPROVED

City of New Brunswick, New JerseyNTE: $915,895.00 plus City match NTE $185,000.00Jun 3, 2026

Rutgers Board of Governors Meeting Minutes April 2025

APPROVED

Rutgers University-New Brunswick, New Jersey$41.2 million (Rutgers' portion)Apr 24, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by Rutgers University-Camden?

New Brunswick Development Corporation was awarded this construction contract by Rutgers University-Camden, as recorded on March 5, 2026. The contract value is Spending authority up to $41.2 million for Rutgers research portion of H-3; expects $31.4 million Aspire Tax Credits netting approximately $28.3 million.

How much is the New Brunswick Development Corporation contract with Rutgers University-Camden worth?

The New Brunswick Development Corporation contract with Rutgers University-Camden is valued at Spending authority up to $41.2 million for Rutgers research portion of H-3; expects $31.4 million Aspire Tax Credits netting approximately $28.3 million, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Rutgers, The State University of New Jersey Board of Trustees Minutes 2026-03-05 (Minutes), dated March 5, 2026 from Rutgers University-Camden. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does New Brunswick Development Corporation hold?

New Brunswick Development Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Rutgers University-Camden currently buying?

Explore Rutgers University-Camden's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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