The New Jersey Economic Development Authority board will support the creation of the Activation, Revitalization, and Transformation Program with $10 million to create two programs, one for Real Estate Rehabilitation and Development projects and one for Public Space Activation initiatives, which will help to reactivate and revitalize Atlantic City and Newark’s commercial corridors in the wake of COVID-19.
This one-time grant opportunity will assist economic recovery in the infrastructure, capacity building and resources necessary to help Atlantic City and Newark recover from the economic harms from the reduction of commuters due to the COVID-19 pandemic.
Approved by the New Jersey Joint Budget Oversight Committee last November, the ART Program utilizes American Rescue Plan State and Local Fiscal Recovery Funds. Read more from ROI-NJ.