The Atlantic City Inlet Now! project's corporate contributor is Ocean Casino Resort Holdings partnered with Atlantic Cape Community College.
Four Atlantic City revitalization projects will receive more than $3.3 million in funding from the state Department of Community Affairs.
The plans to benefit several neighborhoods in the are among 28 nonprofit organizations awarded a total of $15.4 million for the 2025 fiscal year through the Neighborhood Revitalization Tax Credit Program.
These nonprofit organizations will use the NRTC funding, which comes from business contributions, to implement revitalization plans that address housing and economic development, as well as complementary activities such as social services, recreation activities, employment training, and open space improvements in qualifying communities.
“The Neighborhood Revitalization Tax Credit Program centers itself on partnership and shared benefits," DCA Commissioner Jacquelyn Suarez explained. "DCA connects businesses with worthwhile neighborhood projects that are being done by nonprofit organizations deeply rooted in the communities they serve. The program is doing so much to uplift neighborhoods around the state.
"Whether it’s building affordable housing, creating a home repair program, rehabbing storefronts, or developing community centers, residents and small businesses are reaping the rewards of these meaningful projects," she added.
The corporations contribute funding to the NRTC Program and in return receive a 100 percent tax credit against various New Jersey state taxes.
These local organizations prepare, submit and receive approval from DCA for multi-year revitalization plans for the neighborhoods they serve. The approved projects are listed in a qualified projects pool from which companies choose the ones they want to financially support. The NRTC funds must be used by the nonprofit groups for projects and activities set forth in the approved neighborhood plans.
The Atlantic City Inlet Now! project's corporate contributor is Ocean Casino Resort Holdings partnered with Atlantic Cape Community College as the nonprofit organization. The amount is $950,000.
The $950,000 Chelsea Neighborhood Plan 2024 Projects is sponsored by Tropicana Atlantic City with the nonprofit Atlantic City Development Corp.
Midtown Atlantic City Revitalization Continues is funded $457,250 through Parke Bank partnered with the nonprofit AtlantiCare Foundation.
Then there's the Revitalize Ducktown and Venice Park project of $992,750 through PNC Bank (Southern New Jersey), Parke Bank. Fulton Bank with the nonprofit Atlantic County Economic Alliance.
No other Atlantic County municipalities were listed.
In Cumberland County, Bridgeton is being funded $243,750 for the Southeast Gateway Revitalization Plan 2025, and Millville will receive $400,000 to continue Phase 1 of Glasstown Arts District Reimagined.
“DCA is incredibly proud to administer this program that delivers demonstrable results in improving neighborhoods year in and year out,” said DCA Assistant Commissioner Janel Winter, who directs the Division of Housing and Community Resources. “We look forward to seeing all the good that comes from these revitalization efforts that positively impact New Jersey families, local merchants, and community groups.”
The objective of the NRTC Program, which is administered by DCA’s Division of Housing and Community Resources, is to spur the renewal of neighborhoods through strategies developed by residents and the community-based nonprofit organizations that assist them.
Additionally, $1.16 million of recaptured NRTC Program funds were used to supplement the FY2025 project
awards.
