FOR IMMEDIATE RELEASE: Monday, January 28, 2019

A Total of $9.76 Million Awarded to 16 Non-profits for Housing and Economic Development Activities

TRENTON, NJ – The New Jersey Department of Community Affairs (DCA) today announced $9.76 million in grant awards to community-based non-profit organizations through the Neighborhood Revitalization Tax Credit (NRTC) program. Through NRTC, corporations receive an 80 percent tax credit against various state taxes in return for their investment in revitalizing low- and moderate-income communities. DCA’s Division of Housing and Community Resources administers the program and ensures that the corporate funding is allocated to non-profits for implementation of neighborhood revitalization plans.

“The NRTC program is designed to help foster community revitalization efforts in some of New Jersey’s most distressed neighborhoods,” said Lt. Governor Sheila Y. Oliver, who also serves as Commissioner of DCA. “We are seeing great progress across the state with projects that successfully rehabilitate and convert vacant buildings and lots into community assets like mixed-income apartments, public gardens, and technology learning labs for enrichment programs. Every NRTC grant supports the community’s vision and helps our non-profit partners to implement creative plans that benefit neighboring residents.”

Program funds are used by neighborhood-based non-profit organizations that have prepared, submitted and received approval from DCA for a revitalization plan for the neighborhood it serves.  The funds must be used by the eligible organizations for projects and activities that will implement the goals and strategies of the approved neighborhood plan. 

Some of the possible uses of funds by the NRTC grant recipients include: 

  • Construction and rehabilitation of housing units
  • Creation of commercial facilities
  • Assistance to small businesses and microenterprises
  • Employment training
  • Child care
  • Infrastructure improvements
  • Open space improvements
  • Social and community services
  • Recreation activities
  • Crime prevention activities
  • Community outreach activities 

The following are the 18 approved project awards for 2019:

Applicant Organization

Project Name

Funding Amount

City

Neighborhood

Contributing Companies

Catholic Charities, Diocese of Metuchen

Unity Square 2018

$299,250

New Brunswick

 Unity Square

Investors Bank, Janssen Pharmaceuticals, Provident Bank

Community Loan Fund of New Jersey, Inc.

East Trenton Collaborative 2019

$985,000

Trenton

 East Trenton

Customers Bank, NJM Insurance, PNC Bank, PSE&G

Cooper's Ferry Partnership

Cramer Hill NOW! 2019 Revitalization Projects

$981,464

Camden

 Cramer Hill

N.J. American Water

Elizabeth Development Company of New Jersey

Elizabethport Housing and Services

$650,000

Elizabeth

 Elizabethport

Horizon Healthcare, Investors Bank, Valley National Bank

Garden State Episcopal Community Development Corp.

I Love Greenville Community Plan 2018

$719,750

Jersey City

 Greenville

Horizon Healthcare, Investors Bank, M&T Bank, Provident Bank, Valley National Bank

HANDS, Inc.

Makers Mark

$537,975

Orange

 Valley

Horizon Healthcare, Investors Bank, PNC Bank, Valley National Bank

HANDS, Inc.

History Lives Here

$368,750

Orange

 Heart of Orange

Horizon Healthcare, Investors Bank, Provident Bank, Valley National Bank

Holly City Development Corporation

Building Health and Wealth

$100,000

Millville

 Center City

PNC Bank

Interfaith Neighbors Inc

Project VIII

$281,036

Asbury Park

 West Side

M&T Bank, N.J. American Water, Provident Bank

Isles, Inc.

OTN 2019

$746,250

Trenton

Old Trenton

NJM Insurance, PSE&G

Isles, Inc.

THDC 2019

$450,000

Trenton

THDC (West Ward)

Horizon Healthcare, PSE&G

Jewish Renaissance Foundation, Inc.

PAAC 2019

$125,000

Perth Amboy

Greater Budapest

Investors Bank

New Jersey Community Development Corp

Paterson Youth Performing Arts Center

$985,000

Paterson

Greater Spruce St

Horizon Healthcare, M&T Bank, PSE&G, Valley National Bank

Parkside Business & Community In Partnership

Revitalization of the Parkside Neighborhood

$689,500

Camden

 Parkside

Campbell Soup Company

Paterson Habitat for Humanity

Northside Homes, Parks & Microenterprises

$985,000

Paterson

 Northside

Boiling Springs Savings Bank, Kontos Foods, Lakeland Bank, Provident Bank, PSE&G, Railroad Construction Co, Sealy Mattress, Thomson Reuters

Saint Joseph's Carpenter Society

My East Camden, Wave 6

$216,875

Camden

East Camden

Kontos Foods, M&T Bank

The Cooper Health System

Housing and Economic Development Phase VII

$390,500

Camden

 Cooper Plaza

Horizon Healthcare, NJM Insurance, PNC Bank

Urban League of Essex County

Fairmount Neighborhood Advancement, Phase IV

$250,000

Newark

 Fairmount

Horizon Healthcare

The Division of Housing and Community Resources helps to strengthen and revitalize communities through the delivery of affordable housing, supportive services, and financial and technical assistance to communities, local government, and community organizations. For more information on the Neighborhood Revitalization Tax Credit program, visit http://www.nj.gov/dca/divisions/dhcr/offices/nrtc.html. 

Established in 1967, DCA offers a wide range of programs and services that respond to issues of public concern including affordable housing production, fire and building safety, community planning and development, local government management and finance, and disaster recovery. 

For more information about DCA, visit: www.nj.gov/dca/ 

      

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CONTACT:
Tammori Petty
Gina Trish
Lisa Ryan
(609) 292-6055