The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the New Jersey Asset Activation Planning Grant Program. The program offers grants to New Jersey communities and stakeholder groups to fund early-stage planning work focused on catalytic redevelopment and the adaptive reuse of vacant and underutilized public assets.
With an award pool of up to $400,000, the program offers New Jersey public, private and nonprofit entities grants of up to $50,000 for innovative projects that both revitalize community assets and drive equitable community growth.
“In the wake of the COVID-19 pandemic, we have seen a fundamental shift in how we approach repurposing distressed and vacant assets,” said NJEDA Chief Executive Officer Tim Sullivan. “We continue to focus on supporting the creation of vibrant and inclusive cities and neighborhoods. Grants awarded through this program will strengthen the awardees’ ability to transform local underutilized public assets, which will lead to equitable growth opportunities in several New Jersey communities.”
Projects must target distressed public assets, unutilized or underutilized public property, or unutilized public lands owned by a New Jersey municipality, county, independent authority, bureau, commission, or other public body. Proposed plans may include, but are not limited to, conceptual design, feasibility studies, and economic or market analyses. They should also demonstrate a strong connection to the State’s development objectives by creating or catalyzing a new business sector or target industry, driving economic growth and equity, creating an innovative use for an asset, expanding access to public transportation or public services, attracting employers and a diverse, talented workforce, expanding entrepreneurial opportunities and support local businesses, and/or improving land use efficiency and sustainability.
Applications are being accepted until Oct. 24, and will be reviewed and scored on a first-come, first served basis. Applications will be scored on asset impact, community engagement, previous experience, and other factors. A complete list of eligibility and scoring criteria can be found at https://www.njeda.com/asset-activation-planning-grant/.
Funding for the program is being provided through the NJEDA’s Economic Recovery Fund.
To access more business news, visit NJB News Now.Related Articles: