The City of Camden is receiving $180 million from the state in direct investments, as specified in Gov. Phil Murphy’s FY2023 budget. Additionally, the city is receiving $24 million in transitional aid from the state’s FY2022 budget that will go toward capital projects.
At a press conference this morning, Gov. Phil Murphy said, “Camden is a city on the rise; a city focused on doing right by the residents and business who have called this place home through some tough times.” He said the city will also do right by the new residents and businesses whose presence “continue to brighten the city’s future.”
The FY2023 budget provides Camden with funding toward municipal assistance and meeting capital needs, and to support property tax relief. This funding includes over $100 million in Municipal Aid, which includes over $5 million from this fiscal year’s Municipal Relief Fund. The budget also makes major investments—over $80 million—in important projects through the city, the county, and its Improvement Authority, including:
The governor also underscored an additional $24 million direct investment from FY2022 Transitional Aid funds the city will receive to complete critical need projects, including:
According to Camden Mayor Victor Carstaphen, the money is the largest transitional aid supplement in Camden’s history. “When you get transitional aid of that magnitude, it says that we are doing some good things here. … People believe in what we are doing and want us to continue to do great things.
“The $24 million will help support water and sewer infrastructure improvements, attack illegal dumping, and help leverage millions more in federal county, state and local resources that are already being invested. More importantly, this is an investment in our people,” Carstaphen continued. “It helps put confidence and trust in our community and helps build a legacy for our children for years to come. … Our future looks incredibly bright.”
Additionally, the Urban Enterprise Zone (UEZ) program is providing an additional $350,000 to the city for improvements to a dozen commercial store fronts. “This will make stores and streets more attractive with new paint and brick work, new signage, new windows, and safety and security upgrades,” Murphy said.
To access more business news, visit NJB News Now.Related Articles: