· Since 2003, the New Jersey public and private funding community has been organizing and implementing a shared, cross-sector approach to revitalizing the state's low-income neighborhoods that incorporates residents and stakeholders, encourages private investment, leverages corporate resources, and produces measurable results.
· The approach has been shaped by the programmatic alignment of the Wells Fargo Regional Foundation's Neighborhood Grants Program and the New Jersey Department of Community Affairs' Neighborhood Revitalization Tax Credit program (NRTC) with technical assistance from the Housing and Community Development Network of New Jersey.
· The combined programs have supported initiatives in 26 neighborhoods, funded by $16 million in grants from the foundation and $48 million in NRTC investments from 24 corporations.
· The momentum gained by these initial investments is priming the field for sustained investment and collaborative programming, which will produce stronger, healthier, and more vibrant people and communities.!Together, they have created an ecosystem that is helping to nurture these complex initiatives and has produced an impressive level of concentrated activity across a variety of disciplines.
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Greco, L. W. (2013). Communicating, Collaborating, and Coordinating to Revitalize New Jersey Neighborhoods. The Foundation Review, 5(1). https://doi.org/10.4087/FOUNDATIONREVIEW-D-12-00025.1