FOR IMMEDIATE RELEASE: Monday, May 1, 2017


Grants Totaling $1.97 Million Help Nonprofits Revitalize Old Trenton and East Trenton Neighborhoods in Trenton 

Mercer County, NJNew Jersey Department of Community Affairs (DCA) Commissioner Charles A. Richman today announced $1.97 million in grant awards through the Neighborhood Revitalization Tax Credit (NRTC) program to New Jersey Community Capital and Isles, Inc. located in Trenton. The NRTC program is administered by the Division of Housing and Community Resources and allocates corporate funding for implementing neighborhood revitalization plans to community-based nonprofit groups. 

Corporations that fund the program receive a 100 percent tax credit against various state taxes for their investments in revitalizing low-and moderate-income neighborhoods in eligible cities. Funds were contributed by Wells Fargo Bank and NJM Insurance Group.

New Jersey Community Capital was awarded $985,000 to support numerous activities that will benefit the East Trenton neighborhood. The grant will allow for the acquisition of three vacant mixed-use buildings, which will be restored to active use. The funds will also be used to stabilize the homeownership rate by assisting homeowners with needed home improvements, helping them to avoid foreclosure, and recruiting new homeowners to the neighborhood. Financial support for business improvements, workforce development, community building and outreach, family services and educational and recreational opportunities will also be provided.

In the Old Trenton neighborhood, Isles, Inc. will use the $985,000 NRTC grant to rehabilitate an underutilized property to re-open an arts venue, reoccupy vacant storefronts and work with existing businesses to improve the physical appearance of their storefronts. Additional initiatives will include providing support for artists and creative entrepreneurs, hiring and training neighborhood residents for neighborhood cleanup and beatification, and providing a dedicated staff person for community outreach and organizing community events. Lastly, the grant will underwrite 15 children who want to attend summer camp and an on-site case manager to provide social services to neighborhood residents.

Other communities that have benefited from the NRTC program this year include, Jersey City, Orange, Camden, Paterson, Salem, Elizabeth and New Brunswick.

New Jersey Community Capital. is a community development financial institution (CDFI) with a mission to transform at-risk communities. An approved NRTC plan for the East Trenton Collaborative has been in place since 2008. Additional information on Community Loan Fund of New Jersey, Inc can be found at

Isles, Inc. is a community development and environmental organization based in Trenton, New Jersey; with a mission to foster self-reliant families and healthy, sustainable communities, they design and develop effective services. An approved NRTC plan for the Old Trenton neighborhood has been in place since 2007.  Additional information on Isles, Inc. can be found at

NRTC funds must be used by their recipients in accordance with the following requirements:  at least 60 percent for housing and/or economic development activities (including construction and rehabilitation of housing units, creation of commercial facilities, assistance to small businesses, employment training and child care provision); and the remainder (not exceeding 40 percent) for supportive services and other activities that are complementary to neighborhood revitalization (including infrastructure and open space improvements, providing social and community services, recreation activities, crime prevention activities and community outreach activities).

The Division of Housing and Community Resources strengthens and revitalizes communities through the delivery of affordable housing, supportive services and the provision of financial and technical assistance to communities, local government and community based organizations. For more information on the Neighborhood Revitalization Tax Credit program, visit,

Tammori Petty
or Emike Omogbai
(609) 292-6055