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Redevelopment, Capital and Debt

The Bureau of Redevelopment, Capital and Debt provides guidance on the need for bond issuance to the Secretary of Budget, the Auditor General and State Treasurer’s Office.  It provides background on the municipal bond market, possible effects of proposed legislation on bond issuances, payment schedules for operating funds, i.e., Redevelopment Assistance Capital Program (RACP), and recommendations on the timing and sizing of all general obligation bond sales and the coordination of bond issue documents. The Bureau consists of the Program Policy and Grant Development Division and Program Planning and Project Oversight Division.

Program Policy and Grant Development Division

Provides leadership and direction for the RACP, to include establishing and implementing RACP policy, federal tax law compliance, contract preparation and execution, financial planning and analysis and construction oversight.

Program Planning and Project Oversight Division

Manages the payment of invoices, monitoring and close out audit function for the RACP. Additional duties include administering activities related to RACP and establishing and implementing RACP policy.