Getting our Commmunity on the path to success
Strategize. Organize. Mobilize.
Guiding Principles and Eligible Project Activities
Information for Investors
Information for Applicants https://www.nj.gov/dca/divisions/dhcr/offices/docs/nrtc/NRTC%20Project%20App%20PP%20Slides%20Sep2020.pdf
Information for Residents and Business Owners https://www.nj.gov/dca/divisions/dhcr/offices/docs/nrtc/nrtcguidecomgrps.pdf
Approved Organization’s Projects Submitted for Approval of Funding in 2020 https://www.nj.gov/dca/divisions/dhcr/offices/docs/nrtc/Project%20descriptions%20for%20QPP%20(2020-21).pdf
Eligible Project Activities (post Word document)
The Neighborhood Revitalization Tax Credit (NRTC) Program was created by provisions of the Neighborhood Revitalization State Tax Credit Act, P.L. 2001, c.415 (N.J.S.A.52:27D-490 et seq.). The purpose of the Act is to foster neighborhood revitalization through comprehensive strategies driven by residents and other public and private stakeholders within the neighborhood. The NRTC Program, which is administered by the New Jersey Department of Community Affairs, is designed with five (5) specific goals
The Neighborhood Revitalization Tax Credit Program (NRTC) is designed to foster the revitalization of New Jersey's distressed neighborhoods. NRTC offers business entities an 80 percent tax credit against various New Jersey state taxes.Credits are provided to business entities that invest in the revitalization of low- and moderate-income neighborhoods in eligible cities.Sixty percent of the tax credit funds must be used for activities related to the development of housing and economic development.
To encourage community-based neighborhood planning
To provide flexible resources for community-based organizations
To build the capacity of local and community-based organizations to carry out neighborhood revitalization activities
To attract private investment into New Jersey’s low- and moderate-income neighborhoods