City of Elizabeth celebrates $611,000 grant for historic Midtown
Photo credit: Nick Jayme
Local officials gather to commemorate a major investment made possible with support from Wells Fargo and the Valley National Bank through the state’s NRTC program
May 24, 2022
Elizabeth Development Company (EDC) and local officials recently celebrated a new $611,700 grant that will be used to revitalize historic Elizabeth Midtown, a transit-focused neighborhood currently undergoing a multi-million dollar transformation. dollars. The celebration took place at the Children’s Music Institute on Saturday, May 21.
The new funding was made possible by Wells Fargo and Valley National Bank through the New Jersey Neighborhood Revitalization Tax Credit (NRTC) program, which is overseen by the New Jersey Department of Community Affairs (DCA ).
During the ceremony, officials highlighted how the investment will enhance the quality of life for downtown residents, businesses and visitors, as well as stimulate economic development activity around Elizabeth Station. The NRTC grant will fund construction of the new Eastern Union County YWCA headquarters, provide Midtown small businesses with access to capital through loans and grants, and continue to help Midtown youth attend the Children’s Music Institute, as well as increasing beautification and green projects in partnership with Groundwork Elizabeth.
Additionally, Wells Fargo is partnering with the Institute of Music for Children to beautify the school grounds for a volunteer day on Saturday, June 18.
“The NRTC program is an integral part of rebuilding our neighborhoods,” said William O’Dea, executive director of Elizabeth Development Company (EDC). “Wells Fargo’s continued investments have been essential to projects that invest in our youth and the women served by the YWCA. They are a great partner.
“I am thrilled that Elizabeth’s Midtown is the recipient of this substantial investment from the NRTC program and that they are using the funds to strengthen small businesses and support youth and the arts in their community,” said Lieutenant Governor Sheila Oliver. , who serves as DCA commissioner. “The NRTC program has a proven track record of delivering results that drive economic development and improve neighborhoods and I look forward to seeing all the good that comes from their revitalization efforts.”
“This year, we announced the largest funding the NRTC program has ever awarded statewide to help advance revitalization plans. Our DCA team is excited to work with the City of Elizabeth and EDC to help them implement their community-driven neighborhood revitalization plans,” said Bradley Harrington, DCA’s Neighborhood Programs Administrator.
“Investing in our municipality creates new jobs, improves access to resources and enables the continued growth of our local economy. The City of Elizabeth is grateful for this opportunity and for the support and efforts of our community and state partners,” said Mayor J. Christian Bollwage. “The revitalization of our historic downtown is transforming our municipal landscape and this grant will improve quality of life services and provide ongoing vital assistance to our local small businesses and organizations.” Through initiatives that encourage innovative projects, transportation improvements and community support services, we continue to elevate our Transit Village and solidify our Midtown neighborhood as a destination.
“Small business growth is critical to the fabric of our communities,” said Paralee Knight, vice president of community relations at Wells Fargo. “As a company with long-standing roots in Union County and throughout New Jersey, we always want to help the neighborhoods we serve create a strong and growing local economy. By helping underserved communities like Elizabeth, we are also helping to build a better, more sustainable city.
The new grant also closely coincides with the city’s ongoing NRTC Midtown Neighborhood Second Ten-Year Plan, which was originally approved by the DCA in 2009. Key accomplishments of the plan include the establishment of the Trinitas Center of Regional Center of Education, a state – a 1,470 square foot state-of-the-art university training facility; the addition of a new 144,000 square foot college building at Union County College; and the redevelopment of a 60-unit affordable apartment complex.
Today, several hundred homes have been completed or are under construction in Midtown. Additionally, New Jersey Transit is currently undertaking a $71 million redevelopment to completely modernize the city’s train station. When completed in 2023, it will include new incoming and outgoing station buildings, longer platforms to increase boarding capacity, and improvements to access, systems and more.
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