This initiative, funded with $10 million from the American Rescue Plan, aims to provide one-time grant opportunities for projects in urban areas that have been adversely affected by the pandemic.
The NJEDA commenced the application process for its ART Program on June 8
The primary goal of the program is to stimulate economic growth and increase foot traffic in these areas. The Activation, Revitalization, and Transformation (ART) Program has been specifically designed to address the economic disruptions caused by the pandemic in municipalities that have experienced a decline in commuter foot traffic. It consists of two separate programs: one focusing on Real Estate Rehabilitation and Development projects, and the other dedicated to arts-based initiatives aimed at engaging the local community and the general public. The initial round of funding will be allocated to projects in Atlantic City and Newark.
Interested applicants must submit their applications by 5 p.m. on August 22
To provide valuable information and guidance to potential applicants, the New Jersey Economic Development Authority (NJEDA) has scheduled a virtual information session on June 14 at 1 p.m. This session will include a detailed walk-through of the application process. Additionally, the agency plans to organize in-person events in Atlantic City and Newark in the coming weeks to offer further insights into the program and address any queries from applicants and other stakeholders.
The NJEDA’s ART Program presents a unique opportunity for urban areas impacted by the pandemic to revitalize their economies and create positive transformations. By investing in real estate projects and promoting artistic initiatives, the program aims to enhance community engagement and drive economic recovery in these municipalities.