The New Jersey Economic Development Authority is pleased to announce the launch of the Streetscape Revitalization Program. The $10 million initiative, which is one component of the Stronger NJ Neighborhood and Community Revitalization (NCR) Program, will offer grants of $125,000 to $1.5 million to support various projects, including streetscapes, lighting, sidewalks, facade enhancements, and code-related and other physical upgrades to commercial areas.
To be eligible, projects must be targeted within a commercial or mixed-use district. Projects also should result in a public benefit to the municipality. Awarded funds must be used by December 31, 2015. The eligible uses of funds include:
• Public building facade and building enhancement/revitalization efforts;
• Streetscape and public realm enhancement/revitalization efforts; and,
• District wayfinding and image enhancements/revitalization efforts.
Eligible applicants include any storm-impacted New Jersey municipality with one or more established traditional business districts. A ‘main street’ district is defined as a commercial or mixed-use zoned area with a concentration of older or historic buildings within its boundaries. Projects located in one of the nine most impacted counties (Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean and Union) will receive priority consideration. Funds may be provided during the design and construction of a project or upon project completion. Federal environmental and historical reviews may be required. All funds requested for a project must be applied for at the same time; partial funding requests are prohibited.
The NCR program is the third CDBG-funded business recovery initiative utilizing $75 million of the allocation to provide financial assistance to support development and public improvement projects, Community Development Financial Institutions providing loans to small businesses; and, the third and final main street revitalization component. The first two components of the program launched September 4. This includes an allocation of $62.5 million in grants and loans to support catalytic and transformative neighborhood and commercial corridor projects, including mixed-use development; innovation projects involving technology business development; and, projects tied to recreational, cultural and park land amenities.
For more information regarding the Stronger NJ NCR Streetscape Revitalization Program, please click here.
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The New Jersey Economic Development Authority (EDA) is an independent State agency that finances small and mid-sized businesses, administers tax incentives to retain and grow jobs, revitalizes communities through redevelopment initiatives, and supports entrepreneurial development by providing access to training and mentoring programs. For more information on EDA’s products and services, please visit http://www.njeda.com.