The NRTC Program is designed to foster the revitalization of New Jersey’s distressed neighborhoods through the utilization of community-driven neighborhood planning and the creation of private/public/nonprofit partnerships. As the most distressed city in New Jersey, CCDA encourages businesses to select Camden projects.
New Jersey's NRTC Program is also the nation’s 1st funding program that intentionally links highly participatory and resident-led planning efforts to the comprehensive revitalization of low-income neighborhoods. This process involves the creation and adoption of a Neighborhood Plan (Learn More).
How will investors benefit from the NRTC Program?
Who can apply for Tax Credits?
Business entities that are active in New Jersey and have a state tax liability are eligible to apply for the NRTC Program’s tax credits. This includes companies that owe corporation business tax or insurance premium tax. This also includes entities such as partnerships, limited liability companies and S-corporations that owe state gross income tax related to business activity. The NRTC program will provide application forms on their webpage in late fall of 2020.
What will NRTC fund?
1502-1510 Park Boulevard
Haddon Avenue Street Festival
ECONOMIC DEVELOPMENT AND HOUSING ACTIVITIES:
Rehabilitation or construction of commercial facilities; assistance to small business entities; measures to increase the income and labor force participation of neighborhood residents (including employment training and child care), production of new housing through rehabilitation or new construction, and; preservation or upgrading of existing housing.
NEIGHBORHOOD COMPLEMENTARY ACTIVITIES:
Programs and services which primarily benefit neighborhood residents; infrastructure improvements including streetscapes; public open space; recreation; crime prevention; and community outreach.
For more information, contact CCDA Executive Director Jack O’Byrne