Following the designation of Paterson’s Great Falls as a National Historic Landmark in 1976 and the initiation of a substantial program to achieve adaptive reuse of historic industrial buildings there, a new development organization was established in the City of Paterson by Mayor Lawrence F. Kramer and the City Council. The Paterson Restoration Corporation (PRC), a non-profit organization was formally founded in 1977 to administer development aspects of the City’s Title IX $11.1 million Federal Grant to redevelop the Great Falls Historic District. The PRC was designed to coordinate the substantial public investments in the entire Central Area of the City and with interested private developers. Negotiation with industrial, residential, and commercial developers, investors, builders and business/professional groups interested in Paterson’s Central Area was recognized as requiring a separate corporation capable of designing policies and implementing development where increasing reliance would be on private enterprise.
Initially engaged in policy planning, the acquisition of land and buildings, offering financial assistance and negotiating development agreements with private developers in the historic district, the PRC Board has now evolved a broader view of the potential of the entire Central City as having unique attributes which, if preserved and enhanced together with the District, could serve as a new economic basis for expanding employment. Fostering business and increasing revenues to the City of Paterson.
- Paterson Restoration Corp. 1978
The Paterson Restoration Corporation formulates and implements development policies, programs and priorities in the Central City of Paterson, including the historic district and the area generally bounded by the Erie-Lackawanna Railroad, the Passaic River and Interstate Route 80. The PRC has the overall goal of expanding employment and increasing revenues to the City. It’s policies and activities are subject to approval of the Mayor and the City Council.
The PRC general purposes are to:
- Provide advice, guidance and direction on development issues, policies and programs in the target area
- Make recommendations on applications for implementation of state and federal grant programs that potentially affect economic growth and development.
- Supervise the actual implementation of state and federal grant programs and municipal development activities through the administration and management of loan funds approved by the local governing body; coordinate with private banking institution and other public and quasi-public financial bodies; manage and administer other financial and monetary programs consistent with applicable law; and perform such related duties as shall be assigned by the Mayor and Council and accepted by the Board.
- Undertake ownership and management of selected real estate or other ventures consistent with development plans and foster private business development, expansion of appropriate central area functions and tourism in the area
As a non-profit organization whose goal is the improvement and restoration of the central portion of a major city, the PRC operates with the approval of the Mayor and City Council and in close cooperation with the Department of Economic Development and other local, state and federal agencies.
Ruben Gomez, Executive Director
Rev. Randall M. Lassiter; Chairman
James A. M. Dykes II, Vice-Chairman
Jeff Levine, Secretary
Omar Huamani, Treasurer
Harvey Nutter, Trustee
Johana Gomera, Trustee