ATLANTIC CAPE/Atlantic City EDC leaders, from left, Dr. Natalie Devonish, vice president, Student Affairs and Enrollment Management at Atlantic Cape; Samantha Kiley, vice president, Community Health & Social Impact, AtlantiCare; Michael Cagno, president, Ducktown CDC; and Elizabeth Terenik, president, Chelsea EDC.
ATLANTIC CITY - Four Atlantic City community development corporations each received $1,000,000 in Neighborhood Revitalization Tax Credit Program funds from the New Jersey Department of Community Affairs to improve commercial businesses and their facades, offer housing rehabilitation grants, clean and safe initiatives, community programs, outreach and education, and career training.
The awards were announced March 28 for the Atlantic City Development Corporation's Chelsea Neighborhood Plan 2024 project; the Atlantic County Economic Alliance and Ducktown CDC's Revitalize Ducktown project; the AtlantiCare Foundation's Midtown in Motion Revitalization Plan; and Atlantic Cape Community College Inlet Community Development Corporation's Atlantic City Inlet NOW! project.
The NRTC Program provides businesses with a 100% tax credit for funds that are provided to nonprofit entities tasked with carrying out comprehensive revitalization plans in their respective communities. These nonprofit entities must utilize at least 60% of the funds for housing and economic development projects while the remaining 40% of the funds may be used for support services and other neighborhood revitalization activities.
Atlantic City Mayor Marty Small Sr. said he is hopeful about the benefits this funding will bring to the city and its residents.
Our neighborhoods now have the resources at their disposal to do things they may not have been able to do in the past, like housing rehabilitation and facade improvements, Small said. As mayor, I will always do everything I can to better improve the lives of our residents, and this funding will go a long way in seeing that goal through, by giving our neighborhoods the necessary tools to succeed and grow.
NJ Legislative District 2 Assemblyman and former Atlantic City Mayor Don Guardian said the four community development corporations will help achieve Atlantic City's goals of improving the quality of life for its residents, businesses and visitors.
It's great to see this funding come together. It's a great fit for Atlantic City because it specifically addresses the needs that are critical to each of the four communities that their respective CDCs represent, Guardian said. The CDCs have been successful so far in finding programs that make the most sense in their respective communities, such as improving safety, building parks, creating programs for residents, helping businesses and first-time home buyers.
Learn more at:
ACDEVCO/Chelsea EDC chelseaedc.org and acdevco.org
Ducktown CDC acducktown.com and aceanj.com
Midtown CDC midtownacnj.org and atlanticare.org/midtown-in-motion
Inlet Community Development Corporation (ICDC) atlanticcape.edu/inlet and acinlet.org
