Neighborhood Revitalization Tax Credit Program

Since its inception in 2002, the Neighborhood Revitalization Tax Credit (NRTC) program has become one of the most successful public/private programs furthering community development and neighborhood change in New Jersey. The NRTC was designed by the Housing and Community Development Network of New Jersey, authorized by the New Jersey Legislature in 2002, and is administered by the state Department of Community Affairs (DCA). The program is designed to foster the revitalization of New Jersey's distressed neighborhoods. NRTC offers business entities a 100 percent tax credit against various New Jersey state taxes. Credits are provided to business entities that invest in the revitalization of low- and moderate-income neighborhoods in eligible cities. Sixty percent of the tax credit funds must be used for activities related to the development of housing and economic development. The remaining balance may be used for complementary activities such as the provision of assistance to small businesses, removing barriers to self-sufficiency, and promoting the integration of mixed-income neighborhoods.

 

NRTC funds are used by neighborhood-based non-profit organizations that have prepared, submitted and received approval from the Department for a revitalization plan for the neighborhood it serves. The funds must be used by the eligible organizations for projects and activities that will implement the goals and strategies of the approved neighborhood plan. The maximum amount per application is $1,000,000. 

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NJ Spotlight Op-Ed: A Tax Credit Program That Works, Creates Jobs, and is Well-Run

2017 Report: Neighborhood Revitalization Tax Credit: A Catalyst for Lasting Change

Transforming New Jersey Communities through Planning, Investment and Community Engagement

2014 Supplement to Transforming New Jersey Communities through Planning, Investment and Community Engagement

Residents at the Center: A Handbook on Community-Based Planning for Distressed Neighborhoods

Communicating, Collaborating, and Coordinating to Revitalize New Jersey Neighborhoods

Getting your plan designated by HUD as a Neighborhood Revitalization Strategy Area

NJ Map of NRTC Projects