New Jersey American Water Awards Nearly $1 Million to Support Community Development Projects Across Camden and Salem Cities

Rhea-AI Summary

New Jersey American Water has awarded $950,000 through the Neighborhood Revitalization Tax Credit program to two local nonprofits: Camden Lutheran Housing and Stand Up for Salem. The funding supports 10 projects focusing on affordable housing, community outreach, historic preservation, and business development. Camden Lutheran Housing will receive $247,000 for North Camden initiatives including the restoration of the historic Benjamin Cooper House. Stand Up for Salem will get $702,500 for projects like career training and a business incubator. Since 2010, New Jersey American Water has provided $12 million in community grants, with $10.1 million for Camden. The company, serving parts of Camden for over 130 years, will soon handle Salem's water and sewer services, following a successful ballot referendum.

Positive

• Awarding $950,000 to support community development projects.
• Funding 10 projects focusing on affordable housing, community outreach, historic preservation, and business development.
• Camden Lutheran Housing receives $247,000 for various initiatives in North Camden.
• Stand Up for Salem receives $702,500 for projects including career training and a business incubator.
• New Jersey American Water has provided $12 million in community grants since 2010.
• The company has awarded $10.1 million specifically for Camden initiatives.
• New Jersey American Water has been the water provider for parts of Camden for over 130 years.
• Successful ballot referendum to purchase Salem's water and sewer systems.

Negative

• No direct financial benefit reported for New Jersey American Water from the awarded funds.
• Potential risks associated with transitioning to manage Salem's water and sewer systems.

Funds Awarded Through State’s Neighborhood Revitalization Tax Credit Program

CAMDEN, N.J.--(BUSINESS WIRE)-- New Jersey American Water today announced the distribution of $950,000 in Neighborhood Revitalization Tax Credit (NRTC) funding to two local New Jersey nonprofit organizations: Camden Lutheran Housing Inc. and Stand Up for Salem, which were announced in coordination with the N.J. Department of Community Affairs (DCA). These grants will be used to fund affordable housing development and maintenance; community outreach initiatives and organizing support; historic preservation; and business development and career trades training.

New Jersey American Water’s 2024 NRTC funding, totaling $950,000, will support 10 projects across these two nonprofit organizations, in collaboration with numerous local partners, as follows:

• $247,000 to Camden Lutheran Housing Inc. (CLHI): CLHI partners with and supports North Camden residents through various community restoration and improvement initiatives. This grant will help support the community development work outlined in North Camden residents’ neighborhood plan. Community projects will focus on developing and maintaining affordable homeownership housing for residents, supporting community engagement through events and initiatives, installing decorative board ups at abandoned properties to beautify North Camden, and restoring the 290-year-old historic Benjamin Cooper House and transforming it into a museum for community use.
• $702,500 to Stand Up for Salem: Stand Up for Salem supports community-driven neighborhood planning and revitalization in the Center of Salem neighborhood of Salem City. This grant will fund a variety of local projects to revitalize Center of Salem and help the neighborhood reach its full potential. These projects include initial training and workforce development sessions at the new Career Trades Training Center, a business incubator for local entrepreneurs and small businesses, a home repair assistance program for low-and moderate-income homeowners, and local community organizing and engagement efforts.

“At our core, we’re dedicated to delivering more than just water services,” said Mark McDonough, President, New Jersey American Water. “Our mission extends to nurturing the very fabric of the communities we serve through strategic investments in programs, organizations, and initiatives that create tangible benefits for residents. We are proud to continue our legacy of giving back and we support the vital community development and revitalization work that Camden Lutheran Housing Inc. and Stand Up for Salem are doing locally.”

“This NRTC grant delivers the support we need to turn residents’ vision for a stronger, more vibrant North Camden into a reality,” said Brandi Johnson, Executive Director, Camden Lutheran Housing Inc. “New Jersey American Water’s partnership will help us advance projects that will improve the neighborhood, including expanding affordable housing for residents who currently spend more than 30% of their income on housing and ongoing home maintenance and repairs.”

“We are so grateful that New Jersey American Water shares our vision of a thriving, revitalized Center of Salem,” said Betsy McBride, Executive Director, Stand Up For Salem. “This grant supports a range of community programs and projects designed to address existing socioeconomic and housing challenges and create more opportunities for Salem residents through workforce training, a small business incubation program, and efforts to preserve and maintain the neighborhood’s housing stock through proactive repairs.”

Since 2010, New Jersey American Water has provided approximately $12 million in grants to community initiatives in its service areas through the Neighborhood Revitalization Tax Credit program. Approximately $10.1 million of that total has been awarded to Camden initiatives.

New Jersey American Water has been the water service provider for the Cramer Hill and eastern parts of the City of Camden for more than 130 years and will soon be the water and sewer service provider for the City of Salem, having won a ballot referendum in November 2023 to purchase the city’s systems. The company is working toward a seamless transition and expects to close the transaction mid-2024, following approval from the New Jersey Board of Public Utilities.

The NRTC Program, which is administered by DCA’s Division of Housing and Community Resources, is designed to spur the renewal of distressed neighborhoods through strategies developed by residents and the community-based nonprofit organizations that assist them. These local organizations prepare, submit, and receive approval from DCA for multi-year revitalization plans for the neighborhoods they serve. The approved projects are listed in a qualified projects pool from which companies request the ones they wish to support. New Jersey American Water’s application to award grants to these organizations through the NRTC program was approved by the DCA in December 2023.

In addition to New Jersey American Water being the water services provider for Cramer Hill and East Camden, American Water Contract Services has been the contract operator for Camden’s water and wastewater system since 2016. To learn more about American Water’s ongoing partnership with the Camden community, view the Annual Camden Community Investment Report here.

About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About New Jersey American Water

New Jersey American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.9 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520358366/en/

Media Contact:

Denise Venuti Free

Sr. Director of Communications & External Affairs

New Jersey American Water

856-955-4874

Denise.Free@amwater.com

Source: New Jersey American Water

FAQ

What is the total amount of funding awarded by New Jersey American Water through the NRTC program?

New Jersey American Water awarded $950,000 through the Neighborhood Revitalization Tax Credit program.

Which organizations received funding from New Jersey American Water's recent NRTC grants?

Camden Lutheran Housing and Stand Up for Salem received the recent NRTC grants.

How much funding did Camden Lutheran Housing receive from New Jersey American Water?

Camden Lutheran Housing received $247,000 from New Jersey American Water.

How much funding did Stand Up for Salem receive from New Jersey American Water?

Stand Up for Salem received $702,500 from New Jersey American Water.

What projects will be supported by the NRTC funding awarded to Camden Lutheran Housing?

Projects include affordable homeownership housing, community engagement initiatives, decorative board ups at abandoned properties, and restoring the historic Benjamin Cooper House.

What projects will be supported by the NRTC funding awarded to Stand Up for Salem?

Projects include career training, a business incubator, home repair assistance, and community organizing efforts.

How much has New Jersey American Water provided in community grants since 2010?

New Jersey American Water has provided approximately $12 million in community grants since 2010.

How much has New Jersey American Water awarded to Camden initiatives through the NRTC program?

New Jersey American Water has awarded $10.1 million to Camden initiatives through the NRTC program.

What services will New Jersey American Water provide for the City of Salem?

New Jersey American Water will provide water and sewer services for the City of Salem.

When is New Jersey American Water expected to close the transaction to purchase Salem's water and sewer systems?

The transaction is expected to close by mid-2024 following approval from the New Jersey Board of Public Utilities.