NeighborWorks Awards Over $830,000 in Grants to Build NJCC’s Organizational and Program Capacity for Crisis Response
December 7, 2020 // New Brunswick, NJ – During the course of this year, NeighborWorks America, a congressionally chartered community development organization, has awarded New Jersey Community Capital (NJCC) over $830,000 in grants to support the expansion of neighborhood revitalization and lending initiatives in underserved New Jersey communities. The organization also provided additional grant awards to support NJCC’s COVID-19 relief efforts to meet the immediate needs of small businesses and nonprofits hit hardest by the pandemic.
“As businesses and neighborhoods continue to adjust, the support of NeighborWorks allows us to meet community needs, provide comprehensive resources and achieve greater stability for New Jersey’s most vulnerable communities.”
“NeighborWorks is committed to equipping our most vital housing and community development leaders with tools that strengthen and stabilize local communities affected by the challenges of today’s economy,” said Joan Straussman Brandon, Northeast Regional Vice President of NeighborWorks America. “NJCC continues to champion equitable opportunities by addressing housing affordability and fostering safe and healthy places to live for low-income families and individuals.”
“We are grateful for our long-time partnership with NeighborWorks, which allows us to connect underserved communities to crucial capital during this unparalleled time,” said Wayne Meyer, President of NJCC. “As businesses and neighborhoods continue to adjust, the support of NeighborWorks allows us to meet community needs, provide comprehensive resources and achieve greater stability for New Jersey’s most vulnerable communities.”
This current funding from NeighborWorks supports some of NJCC’s core strategies, in particular our purposeful responses to the COVID-19 health crisis and the persistence and pervasiveness of structural racism. NJCC is using these critical resources in several ways:
- To roll out the Garden State Relief Fund, $562,500 for program and operating capital.
- To close the racial gap in access to capital, $50,000 for a new statewide loan program dedicated to providing essential capital to New Jersey Black and Latinx small businesses.
- To help residents of East Trenton, New Jersey improve their health and livelihoods, a $35,000 grant for the East Trenton Collaborative’s comprehensive, resident-led neighborhood plan. NJCC’s Community Strategies team will work with East Trenton residents to improve access to healthy and fresh food through a more integrated food distribution system between local residents and farmers; support a small home repair grant program to replace lead water pipes; and enable full access to online learning tools for children through increased internet connectivity.
- To create NJCC’s Culture of Excellence pilot program, $43,000 in unrestricted grants to enable 12 NJCC employees to participate in the Achieving Excellence leadership model.
- To support Community Asset Preservation Corporation’s affordable housing rental operations, $70,924 in grant capital to be used as rent subsidy.
- To target and secure Opportunity Zone investments for creating jobs and strengthening local economies, a $50,000 grant.
- To provide immediate operational support for NJCC’s rapid pandemic response efforts, a $20,000 grant.
“We’re proud to receive the continued support of NeighborWorks America, an organization that plays a critical role in helping us deliver investments in the communities we serve to mitigate the impacts of this pandemic,” said Marie Mascherin, Chief Operating Officer of NJCC. “This funding bolsters our lending activity, helping to build stronger neighborhoods and facilitate sustainable solutions during this especially critical time for small businesses and nonprofits.”
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New Jersey Community Capital
New Jersey Community Capital (NJCC) is a nonprofit community development financial institution (CDFI) that provides an innovative toolkit of financial products, programs and services to advance equity and opportunity in underserved communities. NJCC supports the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education and strengthen neighborhoods to ensure that communities can thrive. To learn more, visit www.newjerseycommunitycapital.org and Twitter: @NJCLF.
NeighborWorks America
For more than 40 years, Neighborhood Reinvestment Corp., a national, nonpartisan nonprofit known as NeighborWorks America, has strived to make every community a place of opportunity. Our network of excellence includes nearly 240 members in every state, the District of Columbia and Puerto Rico. NeighborWorks America offers grant funding, peer-exchange, technical assistance, evaluation tools and access to training, as the nation’s leading trainer of housing and community development professionals. NeighborWorks network organizations provide residents in their communities with affordable homes, owned and rented; financial counseling and coaching; community building through resident engagement; and collaboration in the areas of health, employment and education.