FOR IMMEDIATE RELEASE: Thursday, May 26, 2016

 

 Grants Totaling $475,000 Will Help Two Organizations Revitalize the Bergen Hill and Greenville Neighborhoods of Jersey City

TRENTON, NJ – New Jersey Department of Community Affairs (DCA) Commissioner Charles A. Richman today announced $475,000 in grant awards through the Neighborhood Revitalization Tax Credit (NRTC) program to WomenRising, Inc. and Garden State Episcopal Community Development Corp. both located in Jersey City. The NRTC program is administered by the DCA’s Division of Housing and Community Resources and provides community based non-profit groups with funding provided by corporate contributions intended for neighborhood revitalization projects.  Since the creation of the NRTC program, 34 corporations have contributed $88,081,000 to fund 29 neighborhood revitalization plans in 15 urban municipalities throughout the state.

“The NRTC program has seen more demand as the program has matured and become more competitive over the years,” said Commissioner Richman. “We’ve fully allocated $10 million in tax credits every year since 2010 and over the last five years seen a significant increase in the number of contributing corporations. Through NRTC, we will continue to support nonprofits and the increased need for economic development resources, including entrepreneur training and employment placement assistance.”

WomenRising, Inc. was awarded $425,000 to provide training in logistics and warehousing management, to 100 students to prepare them for different occupations. Funding for this initiative was provided by PNC Bank, PSE&G and Valley National Bank.

Garden State Episcopal Community Development Corp. in partnership with the Urban League of Hudson County will use a $50,000 grant for façade improvements for six commercial storefronts along MLK Drive, which requires a 25 percent match from property/business owner. Funding for this project was provided by PNC Bank.

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.

The nonprofit organizations agree to allot at least 60 percent of the funds to housing and/or economic development activities.  The remainder may be used for complementary activities such as supportive services, improvements to streetscape and public open space, and community outreach activities.

NRTC has approved 113 grants to date to implement neighborhood plans totaling $88 million in funding.

Other communities that have benefited from the NRTC program this year include Salem, Newark, Orange, Asbury Park, Millville, Camden, Paterson, Trenton, Elizabeth and New Brunswick.

WomenRising, Inc. is a community-based organization for women in Hudson County.  Governed and managed by women, it assists women and their families to achieve self-sufficiency and live safe, fulfilling and productive lives, through social services, economic development, and advocacy services. Additional information on WomenRising, Inc can be found at http://www.womenrising.org/.

Garden State Episcopal Community Development Corp. creates healthy neighborhoods through community development initiatives that cultivate the resources of residents, businesses, government and the faith-based community by serving those most vulnerable. More information on Garden State Episcopal Community Development Corp. can be found at http://gsecdc.org/.

More information on the Neighborhood Revitalization Tax Credit program, visit http://www.nj.gov/dca/divisions/dhcr/offices/nrtc.html.

CONTACT:
Tammori Petty
Emike Omogbai
(609) 292-6055