The New Jersey Casino Reinvestment Development Authority (CRDA) announced a public-private partnership with Atlantic City Electric to provide grants to Atlantic City businesses that sustained property damage earlier this past summer. The CRDA will match Atlantic City Electric’s $50,000 in funding with an additional $50,000 for a total of $100,000 in grant money available.
“This board action demonstrates CRDA’s ongoing commitment to the local business industry,” said CRDA Executive Director Matt Doherty. “These grants will assist businesses located along one of the destination’s main entryways to repair and beautify their storefronts, affording a positive perception for residents and visitors coming into Atlantic City.”
“Atlantic City Electric employees don’t just work in the communities we serve – we are part of them,” said Mellanie Kai Lassiter, senior manager of Corporate Relations for Pepco Holdings, which includes Atlantic City Electric. “When our communities hurt, it hurts us all. These grants are going to help businesses rebuild and support a recovering economy here in Atlantic City.”
The grant program, slated to begin this month, is intended to cover repair costs not otherwise covered by insurance carriers, as well as deductibles that these businesses may have paid to their insurance carriers. The application process will be open for 30 days effective November 9th or until funding is exhausted.
Grant applications are available at www.njcrda.com. The CRDA will review and award grants based on the submitted applications on a first-come, first-served basis in an amount up to $5,000 per applicant.
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