NJEDA Board Approves $17M in Local Property Acquisition Grants to Support 12 Revitalization Projects across New Jersey

November 21, 2024 | nj.gov

Credit: Official logo - NJEDA Economic Development Authority

This week, the New Jersey Economic Development Authority (NJEDA) Board approved over $17 million in funding for the Local Property Acquisition Grant Program. The funding will support 12 real estate development projects throughout New Jersey.

First approved in 2023, the Local Property Acquisition Grant Program is a competitive grant program that will provide funding to municipalities, municipal entities, counties, county entities, and/or not-for-profit local economic and community development entities for the acquisition of a vacant site, building, facility, or collection of properties. Through this funding, awardees may develop or redevelop sites with the intention of supporting local or regional economic development priorities.

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NJ SEED: A worthy stimulus program that encourages economic development projects for vacant properties and unused facilities.