ACTIVATION, REVITALIZATION, AND TRANSFORMATION (ART) PROGRAM
NJEDA is now accepting applications Activation, Revitalization, and Transformation Program. Application period will close on Tuesday, August 22nd, 2023 at 5PM
The Activation, Revitalization, and Transformation (ART) Program, establishes a one-time grant opportunity to support economic recovery in urban areas with mass transit that have faced economic harms from the reduction of commuters due to the COVID-19 pandemic. Funded at $10 million, the ART pilot program will address these harms through the creation of two programs, one for Real Estate Rehabilitation and Development projects and one for Public Space Activation initiatives
The Activation, Revitalization, and Transformation Program (“ART Program”) is a competitive grant program that will proactively deploy $10 million in ARP SLFRF funding to address the impacts of COVID-19.
Administered by the NJEDA, the ART program provides a total funding source of $10 million
SLFRF funding from two separate funding sources.
Projects must be located in Atlantic City or Newark.
This funding will support two products:
Real Estate Rehabilitation and Development
- up to $7 million in grant funding is planned to support real estate development financing in the form of grants for real estate rehabilitation, new construction, and development costs associated to each project
- $3.5 million awards for projects in Newark and $3.5 million in awards for projects in Atlantic City
Public Space Activation
- $3 million in grant funding will support public space activation initiatives
- $1.5 million in awards to applicant in Newark and $1.5 million in awards to applicants in Atlantic City.
The ART program allocates $5 million in funding for projects in Atlantic City and $5 million in funding for projects in Newark that support commercial corridors.
Real Estate Rehabilitation and Development Program
Minimum award request: $250,000
Maximum award request: $3,500,000
Public Space Activation Program
Minimum award request: $250,000
Maximum award request: $1,500,000
Application Fee: $1,000
Not-for-profit entities can apply for fee waivers for undue hardships. Fee waivers for Undue hardship can be demonstrated through the nonprofit’s most recent 990 form if Revenue Less Expenses (line 19) is less than or equal to $500,000 and Net Assets/Fund Balances (line 22) is less than or equal to $1,000,000.
The ART Program will be a competitive grant program accepting applications during a 60-day business day window. NJEDA must receive a minimum of 3 applications in order to start the process towards application evaluation, scoring, and approval.
Grants will be scored on a scale of 0-100 points, with award recommendations limited to applications that meet or exceed the minimum score requirement of 65 points. Applications will be evaluated and scored on each of the criteria found in Exhibit B.
Grant award recommendations will be made based on the highest scored applications received after the competitive application window closes. Awards will be recommended in order until the funding pool is fully utilized.