FOR IMMEDIATE RELEASE: Thursday, May 26, 2016

 

Grant Totaling $985,000 Will Help Revitalize the East Trenton Neighborhood

TRENTON, NJ – New Jersey Department of Community Affairs (DCA) Commissioner Charles A. Richman today announced a $985,000 grant through the Neighborhood Revitalization Tax Credit (NRTC) program to New Jersey Community Capital for activities in the East Trenton neighborhood of Trenton. 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.”

New Jersey Community Capital, partnering with the East Trenton Collaborative, will carry out community programming throughout the neighborhood with a focus on redevelopment initiatives. 

  • The Clean and Green Program will clean up and maintain 50 lots identified as critical to redevelopment efforts.
  • The Small Grants Program will provide small-scale funding to grassroots organizations to implement meaningful projects that better the neighborhood.
  • Six to ten key residential and mixed-use properties will be rehabilitated to improve North Clinton Ave. A facility will also undergo rehabilitation to serve as a neighborhood community center.
  • The Isles REHEET initiative will continue to improve houses through testing and remediation of indoor environmental hazards plus energy efficiency improvements. The program will be expanded to include mixed-use buildings.
  • As part of Summer Work Camp, volunteer labor from local colleges and community organizations will undertake cosmetic and light repairs on neighborhood homes.
  • After School Programs and Summer Camp will provide educational opportunities to neighborhood youth during the school year and during the summer months.
  • An economic market assessment of the industrial and commercial corridors will be done in the neighborhood to identify available parcels and likely types of businesses to recruit.
  • An outreach team will be created to staff community meetings, assist the Steering Committee, and build relationships with residents.
  • The “A Better Way Safe Streets Team” will work with the Trenton Police Department, neighborhood outreach organizers, partner organizations and neighborhood leaders to improve the sense of safety and security in the neighborhood.
  • Job readiness and employment skills training will be offered to unemployed and underemployed East Trenton residents.
  • Case management Services and related supportive services will be made available to eligible low-income residents.

Funds for these initiatives were contributed by NJM Insurance Group. 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. 

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

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

New Jersey Community Capital is a community development financial institution (CDFI) with a mission to transform at-risk communities. Additional information on New Jersey Community Capital can be found at http://www.newjerseycommunitycapital.org/. The East Trenton Collaborative has had an approved NRTC plan since 2008 for the East Trenton neighborhood of Trenton.

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