FOR IMMEDIATE RELEASE: Monday, May 1, 2017

 

Grant Totaling $353,000 Helps Nonprofit Revitalize Center of Salem Neighborhood in Salem

SALEM COUNTY, NJ – New Jersey Department of Community Affairs (DCA) Commissioner Charles A. Richman today announced a $353,000 grant award through the Neighborhood Revitalization Tax Credit (NRTC) program to Stand Up For Salem, a nonprofit organization located in Salem City. 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 the Public Service Enterprise Group.

Stand Up For Salem was awarded $353,000 for several activities within the Center of Salem neighborhood.  A portion of the funding will be used for the first phase of rehabilitation of a former department store that be will be the future home of a Youth Education Center. The grant will finance small grants, micro-loans and technical assistance to encourage low-income Salem residents to start a small local business. Additionally, neighborhood and faith-based grants to engage residents in community leadership and to engage the local faith-based community in community development activities will be supported through the grant. A crime prevention program will also be implemented within the neighborhood. 

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

Stand Up For Salem is a nonprofit corporation working to restore the center of Salem City in Salem County through their Voices From The Neighborhood program. An approved NRTC plan for the Center of Salem Neighborhood has been in place since 2011.

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, www.nj.gov/dca/divisions/dhcr/offices/nrtc.html.

 

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