Heart of Camden Awarded $1 Million in Neighborhood Revitalization Tax Credits

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Heart of Camden celebrates $1 million investment in Camden Waterfront South community

Celebrates Significant Investment in Camden Waterfront South Community

CAMDEN, N.J.--(BUSINESS WIRE)-- The Heart of Camden, together with the New Jersey Department of Community Affairs, Camden City’s Mayor, Camden County Commissioner Jeff Nash, and funding partners Campbell Soup Company and New Jersey American Water today celebrated a $1 million investment in revitalization efforts for the Camden Waterfront South neighborhood.

The grant was awarded through the New Jersey Department of Community Affairs’ Neighborhood Revitalization Tax Credit (NRTC) program with funding from Campbell Soup Company and New Jersey American Water and will be used to implement Heart of Camden's Catch the Wave: Waterfront South Neighborhood Plan. This significant investment will benefit Heart of Camden’s programs for the Waterfront South neighborhood and the children and families in the community.

The Waterfront South Neighborhood Plan is the result of a twelve-month community-driven planning process organized by the Heart of Camden. This plan sets forth a shared vision for the future of the neighborhood and outlines recommendations and strategies guiding revitalization initiatives to bring this vision to fruition within the next ten years. It capitalizes on the many accomplishments of the past decade, and the unique assets defining the community to address some of the neighborhood’s most pressing needs.

The NRTC Program, which is administered by DCA’s Division of Housing and Community Resources, is designed to spur the renewal of neighborhoods through strategies developed by residents and the community-based nonprofit organizations that assist them. Local organizations prepare, submit, and receive approval from DCA for multi-year revitalization plans for the neighborhoods they serve. The approved projects are listed in a qualified projects pool from which companies request the ones they wish to support.

"We're so thankful for the support of our corporate funding partners, the New Jersey Department of Community Affairs, our local and state government, in our mission to support children and their families in the Waterfront South neighborhood and help them thrive. This funding will support our projects and programs of affordable housing, community development, direct family services, and our youth programs and mentorship through the Michael J. Doyle Fieldhouse Gym," said Carlos Morales, Executive Director, the Heart of Camden.

“For years, the Neighborhood Revitalization Tax Credit program has successfully worked to connect corporations with meaningful neighborhood projects that benefit residents and small businesses and help rejuvenate communities,” said Jacquelyn A. Suárez, Acting Commissioner of the New Jersey Department of Community Affairs (DCA). “We at DCA are incredibly proud to administer this worthwhile program and we look forward to seeing the positive impacts that will result from NRTC investments in the Waterfront South neighborhood in Camden. We thank all of the community groups and corporations who, through their collaboration, make these neighborhood projects possible.”

“We are proud to participate in this program and support continued investment in Camden, our hometown of over 150 years," said Kate Barrett, Campbell’s Director of Community Affairs and President of The Campbell’s Foundation. “The Heart of Camden does incredible work, and their collaborative plan will enable the Waterfront South neighborhood to continue to thrive and grow.”

“At New Jersey American Water, we aren’t just a member of the business community in Camden; we’re a member of the community, and that means investing in the programs, institutions, and opportunities that enable tangible benefits for residents,” said Mark McDonough, President, New Jersey American Water. “We’re proud to support Heart of Camden’s plans for Waterfront South, and we’re appreciative of the state’s NRTC program, which continues to be a critical asset in delivering lasting, real change.”

The Heart of Camden is a nonprofit organization that seeks to enhance the quality of life of the South Camden community through programs for housing restoration, economic expansions, and community development. It builds the places to call home. The spaces and programs that strengthen communities, support families, and change lives. Home—it’s where the heart is.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231018313606/en/

Donna Helmes

Heart of Camden

856.425.8465

dhelmes@heartofcamden.org

Source: New Jersey American Water

What is the investment in the Camden Waterfront South community?

The investment is $1 million.

Who are the funding partners in this investment?

The funding partners are Campbell Soup Company and New Jersey American Water.

What is the purpose of the investment?

The investment will be used to implement Heart of Camden's Catch the Wave: Waterfront South Neighborhood Plan.

What is the Neighborhood Revitalization Tax Credit (NRTC) program?

The NRTC program is designed to spur the renewal of neighborhoods through strategies developed by residents and community-based nonprofit organizations.

What is the role of the New Jersey Department of Community Affairs in this investment?

The New Jersey Department of Community Affairs administers the NRTC program.