May 29, 2018 - DCA Announces Initiative for Fiscally Distressed Municipalities in New Jersey

FOR IMMEDIATE RELEASE: Tuesday, May 29, 2018

New Jersey State Resource Network Will Provide Experts in Financial Recovery and Economic Development at Minimal Cost to Local Governments

TRENTON, NJ – To further the Murphy Administration’s goal of creating a stronger and fairer New Jersey for all residents, the New Jersey Department of Community Affairs (DCA) today announced a partnership with the National Resource Network to provide additional assistance to municipalities in the state that have special challenges.

The National Resource Network is a consortium of private-sector and non-profit organizations with local government expertise in financial recovery, economic growth, and community development. The Network has received funding from the Laura and John Arnold Foundation to partner with governments to replicate the model at the state level. Working together, the National Resource Network and DCA have established the New Jersey State Resource Network (NJ SRN) to supplement existing programs in the Department that help financially distressed communities.

“The NJ SRN initiative will deliver professional services to our state’s neediest communities, bringing them high-quality expertise they have often lacked to address the special issues they face,” said Lt. Governor Sheila Y. Oliver, Commissioner of DCA.

DCA and the grant from the National Resource Network will cover three-fourths of the cost of this assistance. The remainder must come from a local match that can include sources other than the municipal budget. DCA and the National Resource Network will work with municipalities to identify sources of matching funds.

Up to six municipalities will be selected for this initiative. Outreach to eligible municipalities will begin this week. An in-person information session for municipal officials will be held on June 6 at DCA’s offices in Trenton and a webinar is scheduled for June 11. Municipalities will have until July 6 to submit applications.

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

For more information regarding DCA, please log on to http://www.nj.gov/dca/ or follow the Department on Twitter @NJDCA, Facebook /NJDeptofCommunityAffairs, and Instagram @nj_dca.