Governor Phil Murphy • Lt. Governor Sheila Oliver

May 1, 2017 - Christie Administration Awards Neighborhood Revitalization Tax Credit Grant in Union County

FOR IMMEDIATE RELEASE: Monday, May 1, 2017

 

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Grant Totaling $732,000 Helps Nonprofit Revitalize Historic Midtown Neighborhood in Elizabeth

UNION COUNTY, NJ – The New Jersey Department of Community Affairs (DCA) Commissioner Charles A. Richman today announced a $732,000 grant award through the Neighborhood Revitalization Tax Credit (NRTC) program to Elizabeth Development Company located in Elizabeth. 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 Horizon Healthcare and PSE&G. 

Elizabeth Development Company was awarded $732,000 for activities that will revitalize the Historic Midtown neighborhood of Elizabeth. The funds will be use to modernize and expand the Trinitas Emergency Department and to expand the size and scope of the education, training and career advancement within the training and education facility. As a result, trainees will have access to advanced medical equipment and technology for career preparation. 

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

Elizabeth Development Company of New Jersey works with cross-sector leaders in cities across Union County and Northern New Jersey, to build innovative urban revitalization practices aimed at improving the economic well-being of residents and communities. An approved NRTC plan for the Historic Midtown neighborhood has been in place since 2010. Additional information on Elizabeth Development Company of New Jersey can be found at http://edcnj.org/. 

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.