Elizabeth Improvement Co. has acquired a $611,700 grant that will likely be used to revitalize the Historic Midtown neighborhood, it mentioned Monday.
The funding, which can assist with the multimillion-dollar transformation of the transit-oriented space, was made attainable by Wells Fargo and Valley Financial institution by means of the New Jersey Neighborhood Revitalization Tax Credit score program overseen by the state Division of Neighborhood Affairs.
EDC Government Director William O’Dea and Wells Fargo Vice President of Neighborhood Relations Paralee Knight have been joined by native officers on the Institute of Music for Youngsters over the weekend to commemorate the grant.
The funding will help the development of a brand new headquarters for the YWCA of Japanese Union County, present loans and grants to Midtown small companies, proceed help for Midtown youth to attend the Institute of Music for Youngsters and extra.
“The NRTC program is an integral element of rebuilding our neighborhoods,” O’Dea mentioned in a ready assertion. “The continued investments made by Wells Fargo have been important to tasks investing in our youth and the ladies served by the YWCA. They’re a fantastic associate.”
The grant coincides with the town’s ongoing, second NRTC Midtown neighborhood 10-year plan.
“I’m thrilled that Elizabeth’s Midtown is on the receiving finish of this substantial NRTC program funding, and that they’re utilizing the funds to strengthen small companies and help youth and the humanities of their neighborhood,” Lt. Gov. Sheila Oliver, the DCA commissioner, mentioned in a press release. “The NRTC program has a confirmed file of delivering outcomes that spur financial improvement and enhance neighborhoods, and I sit up for seeing all the great that comes from their revitalization efforts.”