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Auctions will support Food Desert Relief efforts and the NJ Innovation Evergreen Fund

TRENTON, N.J. (September 30, 2025) – Due to greater than anticipated demand, the New Jersey Economic Development Authority (NJEDA) will increase the amount of tax credits available to a total of $110 million for the Food Desert Relief Tax Credit Auction and the New Jersey Innovation Evergreen Fund Tax Credit Auction.

WHAT: Up to $25 million in tax credits, an increase from $10 million, will be available for purchase through the Food Desert Relief Tax Credit Auction. Proceeds will fund programs that increase access to healthy and affordable food throughout New Jersey’s 50 Food Desert Communities. These future grants, loans, and/or technical assistance initiatives will complement the Food Desert Relief Supermarket Tax Credit Program, a tax credit program to support the development and operation of new supermarkets in Food Desert Communities, by supporting other entities involved in strengthening food security, including smaller retailers and nonprofits.

The New Jersey Innovation Evergreen Fund Tax Credit Auction will sell up to $85 million in tax credits, an increase from $50 million, to fuel additional support for the State’s innovation ecosystem through the New Jersey Innovation Evergreen Fund (NJIEF). The NJIEF helps ensure that more innovative, high-growth companies start, grow, and stay in state. The funds raised from the auction will later be matched by professional venture capital firms and invested into high-growth, early-stage businesses across the Garden State.

WHO: New Jersey corporate taxpayers or insurance companies that want to reduce their New Jersey 2025 tax liability and support the State’s economic development efforts. Companies do not need to be in a food desert, in the food industry, or in the innovation space to buy tax credits through the auctions. Companies can bid for tax credits at a discount of up to 15 to 25 percent through the Food Desert Relief Tax Credit Auction and New Jersey Innovation Evergreen Fund Tax Credit Auction, respectively.

WHEN: Applications for both auctions will close on Friday, October 3, 2025, at 5:00 p.m. Applications for the Food Desert Relief Tax Credit Auction can be found here. Applications for the New Jersey Innovation Evergreen Fund Tax Credit Auction can be found here.

Applicants may revise their application ahead of the deadline through the online application or by contacting NJEDA staff at FDRTCauction@njeda.gov or NJIEF@njeda.gov.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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NEWARK, N.J. (September 29, 2025) – Earlier this month, the New Jersey Economic Development Authority (NJEDA) sponsored AfroTech Executive 2025 at the Prudential Tower in Newark. This second annual event brought together corporate executives, founders, entrepreneurs, and investors for vital discussions on tech innovation, financial literacy and responsibility, and generational wealth creation.

“Under Governor Phil Murphy’s leadership, New Jersey’s tech and innovation sectors continue to flourish, making the Garden State an ideal place for entrepreneurs to grow and succeed,” said NJEDA Chief Executive Officer Tim Sullivan. “It’s an honor to partner with AfroTech to bring this conference back to Newark for a second year. The NJEDA remains committed to breaking down barriers and building a more diverse innovation economy—one that will create jobs, expand opportunity, and ensure lasting prosperity for all New Jerseyans.

Lieutenant Governor Tahesha L. Way and Newark Mayor Ras Baraka delivered opening remarks at AfroTech Executive 2025, and U.S. Senator Cory Booker delivered virtual remarks during the conference. Personal finance educator and author of the New York Times Best Seller Get Good with Money, Tiffany Aliche, served as this year’s keynote speaker.

“I was delighted to join the New Jersey Economic Development Authority, AfroTech, and Blavity for the AfroTech Executive 2025 Conference in New Jersey’s very own City of Newark to welcome this year’s attendees and introduce the captivating The Collaboration Blueprint: Public, Private, and Policy in Partnership panel, featuring Congresswoman LaMonica McIver and Aisha Glover, and moderated by Gary Mann,” said Lt. Governor Tahesha Way. “Now, more than ever, it is so important to be doing the work to ensure that every community is included in the opportunities we are seeing in the emerging tech industry. I’m so proud that our administration, for the past nearly 8 years, has been deeply committed to establishing partnerships to make New Jersey a state where all can succeed and thrive.”

“Over the last few years, we’ve seen New Jersey continue to become a home to more tech focused and innovation driven companies,” said Senator Booker. “For the state to partner with AfroTech alongside NJEDA is a testament to our shared efforts to strengthen our economy and ensure its diversity, guaranteeing a stronger, more prosperous New Jersey for all.”

Congresswoman LaMonica McIver joined the conference’s first panel The Collaboration Blueprint: Public, Private, and Policy in Partnership. Gary Mann, Chairman of the Board of Directors of the African American Chamber of Commerce of NJ, and Aisha Glover, Global Head of Urban Innovation of Audible and NJEDA Board Member, also joined the panel. The panelists highlighted proven strategies and collaborative models that merge public purpose with private capital, and policy with measurable progress.

“I was delighted to join AfroTech Executive 2025 and be part of important conversations focused spurring innovation and economic growth in the communities I serve,” said Rep. McIver. “As a member of the House Small Business Committee, I’m proud to champion this work in NJ-10 and in Washington. I appreciate the NJEDA’s partnership in our shared commitment to creating jobs and building a stronger inclusive economy.”

“The Afrotech Executive event was an exhilarating opportunity to celebrate Black innovators at technology’s cutting edge, entrepreneurs at the vanguard of economic development and disruptors who leverage policy for maximum remunerative impact on both a global and local scale,” said Newark Mayor Ras J. Baraka. “Perched at the vantage point of yesterday and tomorrow, and poised for global leadership in innovation economics, Newark was the perfect host city for this important forum, where transformative financial ideas were exchanged and their application toward meaningful community benefits exemplified.”

The second panel, From Capital to Institution: Investing for Legacy, Power, and Economic Permanence, included Jeff Cherry, Managing Partner, Conscious Venture Partners; Blessy Thomas, Partner, Innovate Capital Growth Fund; and Amos Winbush, CEO and Founder, bckrs.ai. This panel focused on how early-stage decisions shape ecosystems, industries, and ownership patterns.

“AfroTech Executive’s convening in New Jersey proved what’s possible when leadership, capital, and innovation meet with intention,” said SVP of AfroTech and Live Events, Simone Tyler. “This partnership with NJEDA created opportunities for local business leaders, corporate businesses and civic leaders to discuss the future or growth in tech and business. The result was measurable progress and a blueprint for what comes next.”

“The Afrotech event was timely, forward thinking and transformational at the same time,” said Founder, President and CEO of the African American Chamber of Commerce of New Jersey (AACCNJ). “We applaud the NJEDA for its thoughtfulness and support for this form of programming in New Jersey at this time.”

“AfroTech Executive 2025 brought together leaders from the tech and innovation sectors, highlighting ways to break down barriers for Black entrepreneurs,” said NJEDA Chief Equity & Chief Inclusive Culture Officer Michelle Bodden. “It’s important to continue having these insightful conversations so that entrepreneurs of color have the tools they need to succeed and thrive, helping uplift businesses and entire communities.”

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

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TRENTON, N.J. (September 22, 2025) – The New Jersey Economic Development Authority (NJEDA) will open applications for the Next New Jersey Manufacturing Program on Thursday, September 25, 2025. The program will encourage growth in New Jersey’s manufacturing sector by offering long-term benefits to manufacturing companies. Last month, Governor Phil Murphy signed A5687/ S4407 into law, establishing the $500 million tax credit program.

WHAT: The Next NJ Manufacturing Program is a tax credit initiative designed to spur significant investment, create new jobs, and solidify the state’s manufacturing industry.Under the program, manufacturers can receive a tax credit award of up to $150 million, based on an applicant’s proposed new jobs and capital investment.

WHO: Eligible applicants include businesses in manufacturing industries, such as advanced manufacturing, non-retail food and beverage, defense, clean energy, and life sciences.

WHEN: Applications will open on Thursday, September 25, 2025, at 10:00 a.m. Click here for full eligibility requirements and to apply. For more information, please email nextnjmfg@njeda.gov.

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New approvals under Aspire and HPRP programs will support five redevelopment projects in Essex, Mercer, and Middlesex counties

TRENTON, N.J. (September 19, 2025) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved five redevelopment projects for tax credit awards under the Aspire Program and the Historic Property Reinvestment Program (HPRP). The five projects, located throughout Essex, Mercer, and Middlesex counties, will create more than 1,146 housing units, 544 of which will be affordable.

“A key pillar in Governor Phil Murphy’s mission for a stronger and fairer New Jersey includes investing in initiatives that revitalize communities, expand housing options, and promote sustained economic growth,” said NJEDA Chief Executive Officer Tim Sullivan. “The redevelopment projects approved by the Board will create hundreds of new, affordable housing units, building upon the success and impact the Aspire and HPRP programs have already had in neighborhoods across the Garden State. These are meaningful investments that will build stronger communities and families for years to come.”

The Board approved a combined $24 million in HPRP tax credits to support two projects in Newark. HPRP is a tax credit program established to support rehabilitation projects of identified historic properties in New Jersey, which can be used to leverage the federal historic tax credit program.

QOZB Ellavoz Newark Urban Renewal, LLC was awarded $12 million in tax credits for the complete rehabilitation of 292-306 Martin Luther King Jr. Boulevard in Newark, which was formerly known as St. Michael’s Hospital. The building will include co-living apartments, where individuals can rent private bedrooms while sharing communal spaces, such as a living room and kitchen. The property, which will be marketed towards university students, young professionals, and health care workers, will have 42 co-living residential units with a total of 144 bedrooms. Eight of those units are set aside for affordable housing. The project will also offer a full amenity package that includes interior and exterior lounge space, a fitness room, and a large multi-purpose room with work and gathering space. There will also be commercial and retail space on the first floor.

10 Park Place, also known as the Firemen’s Insurance Company Building in Newark, will undergo an office-to-residential conversion with the support of $12 million in HPRP tax credits, as well as $81 million in Aspire tax credits. The 10-story building, located adjacent to the New Jersey Performing Arts Center (NJPAC), will be turned into a mixed-use building with 196 affordable housing units and commercial retail space on the first floor. The project also includes a complete cleaning and repair of all exterior masonry, as well as new heating, ventilation, and air conditioning (HVAC), electrical, and plumbing systems.

The HPRP’s focus is historic preservation as a component of community development, aiming to attract long-term private investment into New Jersey while preserving properties that have historic value. The revitalization of historic structures will help to bring these often-underutilized properties back to productive use, thereby reducing the need for new development at these locations. Created under the New Jersey Economic Recovery Act of 2020 (ERA), the HPRP is designed to work in conjunction with the Federal Historic Tax Credit Program and is subject to an annual program cap of $50 million, with annual unused amounts included in the amounts available for approval in the subsequent year. Full details on the program are available here.

In addition to 10 Park Place, the Board approved Aspire awards for projects in East Orange, Trenton, and New Brunswick. Aspire is a gap financing tool to support commercial, mixed use, and residential real estate development projects.

533 Main Street, LLC was awarded more than $297 million in tax credits for a multi-phased, transit-oriented project that entails the new construction of a mixed-income development in East Orange. Located at 533 Main Street, The Crossings at Brick Church Station Phase 1B will be a nine-story building with 420 multifamily rental units, including 84 affordable housing units and 63 workforce housing units. The property will have a common area for residents, as well as retail, restaurant, office, and medical space, and 342 parking spaces. The project is located within an Urban Enterprise Zone (UEZ) and an Opportunity Zone. The Project will also comply with the Energy Star Homes Program included in the New Jersey Housing and Mortgage Financing Agency’s (NJHMFA) Green Standard Requirements, which satisfies NJEDA Green Building Standards. The project is also supported by Low-Income Housing Tax Credits (LIHTC) through the NJHMFA.

Rowan Preservation, LLC was awarded more than $66 million in tax credits for the rehabilitation of an existing residential project in Trenton. Located at 620 West State Street, Rowan Towers will include 196 units, all of which will receive Project-Based Vouchers, consisting of studios, one-bedroom, and two-bedroom apartments. The 15-story building will undergo extensive renovations, including new plumbing, the installation of fire sprinklers and emergency generators, solar panel integration, and HVAC systems in each unit. The units will also be outfitted with new kitchens and bathrooms, vinyl plank flooring, and modern plumbing and lighting fixtures. The building will also include common areas, which will have amenities such as a community room, kitchen space, a reading room and library, restrooms, a laundry facility, a fitness center, a theater and television room, and a vending area. Outdoor recreational spaces, including the basketball court and playground, will also be improved. The Project will also comply with the Energy Star Homes Program included in the NJHMFA Green Standard Requirements, which satisfies NJEDA Green Building Standards. This project is also supported by LIHTC tax credits through the NJHMFA.

11 Spring Street Urban Renewal, LLC was awarded $120 million in tax credits for the new construction of a residential, mixed-use project, located at 11 Spring Street in New Brunswick. The 27-story high rise will have 186 one-bedroom, 102 two-bedroom, and 12 three-bedroom units. Of the 300 units, 20 percent will be set aside for affordable housing.

Aspire is a place-based economic development program created under the ERA to support mixed-use, transit-oriented development with tax credits to commercial and residential real estate development projects that have financing gaps. All residential Aspire projects must include at least 20 percent affordable housing. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits.

“Once again, the NJEDA delivers the assistance Newark needs to provide our residents the affordable housing opportunities so desperately sought throughout the entire state,” said Ras J. Baraka, Mayor of Newark. “The Aspire Program and HPRP tax credits dovetail with our self-determined mandate to build sustainably and enable adaptive reuse of historic buildings to preserve the city’s chronology, character and culture. We are grateful for this opportunity to infuse the bones of old buildings with the lifeblood of tomorrow and to create dynamic housing ecosystems from landmarks steeped in our history.”

“Rowan Towers has long been home to hundreds of Trenton residents, and this investment ensures that they will see real improvements to their quality of life,” said Reed Gusciora, Mayor of Trenton. “The planned upgrades—from safer infrastructure to new community amenities—will bring renewed vitality to this cornerstone of our city. We are grateful to Governor Murphy, the NJEDA, and all of our partners for recognizing the merit of this effort and helping us continue to build a stronger, more vibrant Trenton.”

“The 11 Spring Street development marks another significant step forward in New Brunswick’s revitalization,” said Jim Cahill, Mayor of New Brunswick. “By bringing additional housing opportunities, including affordable units, into the heart of our City, we are strengthening and enriching our vibrant downtown district and all that it has to offer.”

“Our city stands at a pivotal moment, a chance to honor our past and build our future. It’s not just about bricks and mortar; it’s about building a legacy. We’re weaving together our history and herstory to forge a new destiny for East Orange,” said Mayor Ted R. Green. “These projects aren’t just buildings; they are beacons that will inspire our youth and drive our community forward. We’re doing this with compassion for every neighbor, with the authenticity of who we are, and with the knowledge that our collective strength will make a significant difference in the lives of others”

About the NJEDA

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TRENTON, N.J. (September 18, 2025) – The New Jersey Economic Development Authority (NJEDA) is seeking public input on a summary of proposed amendments to the Film and Digital Media Tax Credit Program rules. The program provides a transferable credit against the corporation business tax and the gross income tax for qualified expenses incurred for the production of certain film and digital media content in New Jersey. The act incentivizes production companies to film and create digital media content in New Jersey. The summary of proposed amendments includes changes made by P.L. 2025, c. 81, signed into law on June 30, 2025.

WHAT: A summary of the proposed amendments can be found here. The final amendments will be presented to the NJEDA Board for its review and consideration for approval. If approved, the amendments will be published in the New Jersey Register for formal public comment as required by the Administrative Procedure Act before adoption.

WHEN: Feedback must be submitted through the NJEDA’s website by Wednesday, September 24, 2025.

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$15M NJ LEAF program will strengthen cannabis cultivators, manufacturers, and laboratories to bolster long-term industry stability

TRENTON, N.J. (September 15, 2025) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved a new $15 million pilot program to bridge capital access gaps for recreational cannabis cultivators, manufacturers, and testing laboratories. The New Jersey Lending for Equity, Access, and Financing (NJ LEAF) Program will provide low-cost financing of up to $1.5 million to eligible cannabis companies, expanding upon NJEDA’s already established cannabis-focused financial tools, empowering small businesses, and advancing the State’s commitment to equitable economic development.

“Under Governor Phil Murphy’s leadership, New Jersey is building an equitable cannabis market by supporting every link in the supply chain,” said NJEDA Chief Executive Officer Tim Sullivan. “NJ LEAF will ensure companies that are cut off from traditional financial resources have access to the capital needed to succeed, helping to create jobs, strengthen communities, and solidify New Jersey’s long-term growth as a national leader in the cannabis market.”

The NJ LEAF Program will provide flexible lending options for both fixed assets and working capital, helping eligible businesses grow and stabilize their operations in New Jersey. Fixed asset loan amounts will range from $100,000 to a maximum of $1.5 million, and working capital support loans will extend from $100,000 to a maximum of $500,000. The funding options offer valuable resources for businesses to invest in property, upgrade equipment, and cover day-to-day operational expenses.

“NJ LEAF will build upon the NJEDA’s already successful efforts to support the state’s burgeoning cannabis industry,” said NJEDA Chief Community Development Officer Tai Cooper. “New Jersey’s continued investment into this strategic sector is unlocking much-needed resources for diverse entrepreneurs, helping create jobs and strengthen communities.”

Eligible businesses must hold a valid and current recreational Class 1- Cannabis Cultivator, Class 2 – Cannabis Manufacturer, or Testing Laboratory annual license digital card issued by the New Jersey Cannabis Regulatory Commission (NJCRC). In addition, businesses must be based in New Jersey, employ fewer than 250 full-time employees, and must have been in operation for at least one calendar year with annual gross revenues of $5 million or less. In line with Governor Murphy’s efforts to foster an equitable cannabis industry, five percent of funding under the program will be set aside for businesses located in Impact Zones, which are areas designated by statute that were disproportionately impacted by cannabis prohibition or meet other statutory criteria. For more information on eligibility and funding uses, visit www.njeda.gov/nj-leaf or email businessbanking@njeda.gov.

“It has been heartening to see the NJEDA’s commitment to financially supporting New Jersey’s cannabis entrepreneurs,” said NJCRC Chairwoman Dianna Houenou. “Our applicants and operators face obstacles that are unique to the industry without access to the financial tools available to other business owners. I am grateful that NJEDA with NJ LEAF and its grant programs are attempting to close that gap.”

In May, the NJEDA Board approved the $5 million Cannabis Business Development (CBD) Grant Program, which will provide targeted financial support to eligible recreational cannabis entrepreneurs to help alleviate and manage the cost of ongoing State and local compliance, as well as operating expenses. The NJEDA’s two new cannabis programs follow the success of the Seed Equity and Joint Ventures Grant Programs, which have delivered nearly $14 million and supported the opening of 40 cannabis businesses across New Jersey to date.

About the NJEDA

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Please be advised that the Capital City Redevelopment Corporation Board Meeting previously scheduled for September 16, 2025, is hereby cancelled.

The next regularly scheduled meeting is Tuesday, October 21, 2025 @ 11am. The Members will meet in person and via Microsoft Teams.

The agenda can be found 48 hours prior to the meeting at our website: www.njeda.gov/ccrc.

Please be advised that the next Capital City Redevelopment Corporation Board Meeting will be held in person and via teleconference on Tuesday, September 16, 2025, at 11:00 am.

Members of the public who wish to speak during the public comment segment of the meeting, pertaining to agenda items, may attend in person or call into the meeting by using the conference number, and are encouraged to call in prior to the meeting start time to avoid any delays.

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton, NJ 08625

TELECONFERENCE:

CONFERENCE NAME: CCRC BOARD MEETING

PARTICIPANT DIAL-IN NUMBER: 551-220-2262

PARTICIPANT ACCESS CODE: 963 081 379#

The agenda can be found 48 hours prior to the meeting on the website: www.njeda.gov/ccrc.

The New Jersey Economic Development Authority’s next public Board Meeting will be held in person, via conference call, and via Microsoft Teams on Wednesday, September 10, 2025, at 10:00 am.

Members of the public may participate in the meeting attending in person, by calling in on the conference line, or joining via Microsoft Teams link. Members of the public will have an opportunity to speak during the public comment segment of the meeting. The following conference number and Microsoft Teams link are being provided:

MEETING NAME: NJEDA BOARD MEETING (SEPTEMBER 10, 2025)

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton NJ

PARTICIPANT DIAL-IN NUMBER: 1-888-790-3708

PARTICIPANT ACCESS CODE: 7825427

MICROSOFT TEAMS MEETING ACCESS LINK

FOR TEFRA NOTICE:

Notice of Public Hearing (TEFRA) – NJEDA

Members of the public are encouraged to call in prior to the time the meeting is scheduled to begin to avoid any delays.

The agenda can be found 48 hours prior to the meeting on our website: https://www.njeda.gov. The meeting will also be recorded and posted to the NJEDA website shortly after the conclusion of the meeting.

Aspire tax credits will support the creation or preservation of 500 housing units, including 267 affordable units

TRENTON, N.J. (September 3, 2025) – The New Jersey Economic Development Authority (NJEDA) Board recently approved residential projects in Jersey City and Atlantic City for tax credit awards under the Aspire Program. The two awards, representing a collective investment of more than $143 million, will support the creation or preservation of 537 housing units, including 267 affordable residences, continuing the Aspire Program’s success in furthering catalytic development and expanding affordable housing across the state.

“Under Governor Phil Murphy’s leadership, New Jersey continues to make meaningful investments into projects that revitalize downtowns and main streets, expand access to affordable housing, and support long-term economic growth,” said NJEDA Chief Executive Officer Tim Sullivan. “The latest approvals under the Aspire Program will create hundreds of affordable housing units, building stronger, more resilient communities that will benefit New Jersey residents for decades to come.”

The proposed development in Jersey City’s Journal Square neighborhood, known as 701 Newark Ave, will consist of a 34-story building with 360 residential units, including 90 affordable units, and nearly 3,000 square feet of ground-floor retail space. The project will also include a pedestrian walkway, called Homestead Place, that will provide improved access to nearby supermarkets, healthcare facilities, the Hudson Pride Center, and the local library. The site offers convenient access to public transportation, including the Journal Square PATH Station and multiple bus routes.

701 Newark Ave LLC was approved for an award of up to 60 percent of total project cost, not to exceed $89.96 million.

“Over the past decade, we’ve made Jersey City a model for affordable housing by requiring strong inclusionary mandates and delivering thousands of new and affordable units across all six wards. Our commitment is especially evident in Journal Square, where we are driving a historic revitalization to restore its role as the cultural and economic heartbeat of our city,” said Jersey City Mayor Steven M. Fulop. “The NJEDA’s support for 701 Newark Avenue builds on that progress, bringing 90 new affordable homes and vital community connections to the heart of Journal Square.”

Garden Court Apartments, the proposed development at 1425 McKinley Avenue in Atlantic City, will include the rehabilitation of an existing residential complex to preserve 177 fully affordable rental units across 20 two- and three-story buildings reserved for low- or moderate-income tenants. Gateway Community Action Partnerships, a co-applicant on the project, will connect residents with resources to promote self-sufficiency, including education and employment opportunities and financial literacy services.

Garden Court AC LLC was approved for an award of up to 85 percent of the project cost, not to exceed $53.3 million.

“The Small administration is in full support of this project and is very glad to see it moving forward. We often talk about improving the housing stock in the great City of Atlantic City, and this project further demonstrates that we say what we mean and mean what we say,” said Atlantic City Mayor Marty Small, Sr. “I want to give many kudos to Governor Murphy and the NJEDA for making sure this project happens. It is truly a great day here in the City of Atlantic City.”

The two projects approved for Aspire awards are also supported by Low-Income Housing Tax Credits through the New Jersey Housing and Mortgage Finance Agency.

Aspire is a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 (ERA) to support mixed-use, transit-oriented development with tax credits to commercial and residential real estate development projects that have financing gaps. All residential Aspire projects must include at least 20 percent affordable housing. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits.

About the NJEDA

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