New Jersey Community Capital Awarded $517,000 from NeighborWorks America to Bolster Affordable Housing and Community Development Strategies Throughout New Jersey

Senators Menendez and Booker Praise NeighborWorks for Awarding Grant to NJCC

[New Brunswick, NJ] – New Jersey Community Capital (NJCC), a member of the NeighborWorks network, recently received $517,000 in grants from the Neighborhood Reinvestment Corporation, dba NeighborWorks America – to continue to support its affordable housing and community development activities.

“New Jersey Community Capital is proud to receive this grant from NeighborWorks America, an organization that plays such a crucial role in community development, advocacy and collaboration throughout the country,” said Wayne T. Meyer, President of New Jersey Community Capital. “This funding will allow us to continue making strategic investments in people and places to create thriving communities that lead to a fairer economy. We are thankful to NeighborWorks for their continued partnership and support of our community development work, and are proud to call ourselves a NeighborWorks Chartered Member.”

“Over the past three decades, New Jersey Community Capital has invested over $630 million in New Jersey communities to create and preserve affordable housing and support employment and educational opportunities here in the Garden State,” said United States Senator Bob Menendez (D-NJ). “NJCC’s impact can be seen in communities throughout New Jersey, and there is no doubt that this money will be put to good use in creating thriving communities and economic opportunities for New Jersey families.”

“As the largest CDFI in New Jersey, New Jersey Community Capital is on the front lines creating opportunity in distressed regions throughout the state,” said United States Senator Cory Booker (D-NJ). “This funding will lift up underserved communities across New Jersey by helping them meet critical local housing needs, revitalize struggling neighborhoods, and expand economic opportunity for all.”

NeighborWorks America is announcing $65 million in grants to its network of more than 240 nonprofit organizations located around the country. NeighborWorks organizations use the grants to develop and manage high-quality affordable housing, help consumers set and reach their goals through financial coaching, offer homeownership education and counseling, and revitalize and strengthen communities.

“NeighborWorks America is committed to ensuring our investments are working in ways that improve people’s lives,” said Jeffrey Bryson, NeighborWorks America interim president and chief executive officer.

In fiscal year 2017, the NeighborWorks network counseled 181,400 families and individuals on financial capacity, pre-purchase, post-purchase, or foreclosure issues; owned and managed 165,500 rental homes; and created more than 43,000 jobs.

For more information about New Jersey Community Capital, go to newjerseycommunitycapital.org. For more information about NeighborWorks America go to NeighborWorks.org.

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About NeighborWorks America
For nearly 40 years, Neighborhood Reinvestment Corp. (d/b/a NeighborWorks America), a national, nonpartisan nonprofit, has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and safe, affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $34 billion in reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development and affordable housing professionals.

About New Jersey Community Capital
New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that provides innovative financing and technical assistance to support the development and preservation of sustainable community ventures that strengthen and stabilize neighborhoods. Founded in 1987, NJCC has invested over $630 million in New Jersey communities resulting in more than 9000 jobs, 9900 housing units, 6800 early care slots and 18,900 education seats. For more information, please
visit: www.newjerseycommunitycapital.org.