New Brunswick Tomorrow Awarded $750,000 for Esperanza Neighborhood Revitalization
New Brunswick, NJ- New Brunswick Tomorrow (NBT) recently received a $750,000 grant from the New Jersey Department of Community Affairs’ Neighborhood Revitalization Tax Credit (NRTC) program to invest in further improvements in the Esperanza Neighborhood. The NRTC program was created to spur the renewal of distressed neighborhoods through strategies developed by residents and the community-based nonprofit organizations that assist them. With these funds, NBT is poised to drive tangible, equitable neighborhood revitalization for many years to come.
“Our work in the Esperanza Neighborhood has been a collective endeavor powered by residents and local businesses, and supported by many partners,” said Jaymie Santiago, President of New Brunswick Tomorrow. “This NRTC award is a recognition of all the positive changes we’ve achieved so far, and a vote of confidence that together, we can improve quality of life and create opportunities for all who live and work here.”
This funding greatly increases NBT’s ability to impact the Esperanza Neighborhood Project’s focus areas; including, housing, economic development, family and community services, and neighborhood building. In the first year, NBT will renovate two neighborhood homes and launch a new down payment assistance program for low- to moderate- income home buyers, a partnership with Community Asset Preservation Corporation. We will also scale up supports for small businesses and entrepreneurs by funding a façade improvement grant program, marketing initiatives for businesses along the French Street corridor, and training opportunities offered through Rising Tide Capital. Additionally, NBT will leverage this funding in partnership with the City of New Brunswick to make tangible improvements to the French Street streetscape and neighborhood parks. And finally, NBT will increase support to the Family Leadership Academy, a collaboration with Puerto Rican Action Board, and the Youth Arts Institute with coLab Arts and Elijah’s Promise.
These strategies are drawn from the Esperanza Neighborhood Revitalization Plan, which was developed over 18 months, with the input of hundreds of local residents, small businesses, and community stakeholders. The Plan can be accessed here.
NBT is pleased to have attracted NRTC investment from the following business entities (listed in alpha order): Investors Bank; M&T Bank; NJM Insurance; PNC Bank; Provident Bank; PSEG; and Valley National Bank.
About New Brunswick Tomorrow
New Brunswick Tomorrow is a social impact organization dedicated to enriching the lives of New Brunswick’s people by improving quality of life for all who call New Brunswick home. NBT fosters networks of institutions and community organizations, serving as a catalyst in developing solutions that improve the issues that matter most to city residents. For more information, visit www.nbtomorrow.org.
Michelle Villa, Associate Director of Communications
New Brunswick Tomorrow, email@example.com