Bayonne, N.J., this week will refund $67.6 million of short-term notes, converting them into long-term debt as the municipality prepares to file tax-increment financing plans for a mixed-use development overlooking the New York Harbor.

In December, the state's Local Finance Board authorized three sections of the 430-acre site, called the Peninsula at Bayonne Harbor, as revenue allocation districts. That decision allowed Bayonne to craft financing strategies that include TIFs, called RAD bonds in New Jersey.

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