New Jersey American Water said Monday it is furthering its investment in the city of Camden by providing a $981,464 Neighborhood Revitalization Tax Credit (NRTC) grant to fund revitalization efforts in the city’s Cramer Hill neighborhood.
This year, New Jersey American Water selected the 2019 Revitalization Projects from the Cramer Hill NOW! Plan as the benefactor of its NRTC grant funds. The funding will be used to improve the River Avenue Business Corridor, promote continued business in the area, transform blighted vacant structures into new housing, and help promote Cramer Hill as a vibrant, safe neighborhood to live, work and play.
These projects will be administered by Cooper’s Ferry Partnership, a Camden-based community and economic development organization, in partnership with St. Joseph’s Carpenter Society and the Camden Special Services District.
Representatives from the City of Camden, New Jersey American Water, Cooper’s Ferry Partnership, Camden Special Services District (CSSD), St. Joseph’s Carpenter Society, community partners and Camden residents and business owners gathered on Monday for the announcement.
“The 2019 Cramer Hill NOW! Plan focuses on those who are living and working in this vibrant community,” said Camden Mayor Francisco Moran. “This investment will directly benefit those businesses operating within Cramer Hill’s commercial corridor and will continue to spur positive change within this growing neighborhood from both a social and economic perspective.”
The NRTC program is designed to foster the revitalization of New Jersey’s distressed neighborhoods. NRTC funds are used by neighborhood-based nonprofit organizations that have prepared, submitted and received approval from the New Jersey Department of Community Affairs for a revitalization plan for the neighborhood it serves. The funds must be used by the eligible organizations for projects and activities that will implement the goals and strategies of the approved neighborhood plan.
New Jersey American Water has successfully allocated tax credits through the NRTC program since 2010. To date, New Jersey American Water has contributed more than $6.7 million dollars to local community projects through the program, with approximately $5.7 million of that contributed to Camden initiatives.
“New Jersey American Water is now a part of the Camden business community and these improvement projects will support the continued development of that community in Cramer Hill,” explained Cheryl Norton, president of New Jersey American Water. “The positive impact these projects can have on both neighborhood residents and business owners further highlights our company’s commitment to giving back to the communities we serve. We are proud of our continued partnership with the City of Camden, Cooper’s Ferry Partnership and CSSD, as we work together cooperatively to make Camden a better place to visit, live and work.”