Three Camden nonprofit redevelopment groups were awarded $2.4 million in state Neighborhood Revitalization Tax Credit grants to help in the revamping of city neighborhoods.
The Neighborhood Revitalization Tax Credit Program (NRTC) offers New Jersey businesses 100 percent tax credits for various state taxes in return for investing in the revitalization of low-and moderate-income neighborhoods.
Here are the Camden nonprofits that will benefit this year from the program:
- Camden Lutheran Housing, Inc. received $425,031.00
- Parkside Business and Community In Partnership, Inc. received $985,000.00
- Cramer Hill Community Development Corporation received $985,000.00
I haven’t heard back yet from any of these groups on what specifically they plan to use the money. But according to the 5th Legislative District, which represents Camden and announced the award, each group asked for the money to continue developments in their own neighborhoods.