The statehouse in Trenton
By Joshua Burd
The state Economic Development Authority is now accepting applications for a program that could help breathe new life into vacant and underutilized public assets.
According to the agency, the New Jersey Asset Activation Planning Grant Program aims to fund early-stage planning work focused on redevelopment and the adaptive reuse of such properties. It’s offering an award pool of up to $400,000, with individual grants as high as $50,000, for applicants in the public, private and nonprofit sectors.
“In the wake of the COVID-19 pandemic, we have seen a fundamental shift in how we approach repurposing distressed and vacant assets,” said Tim Sullivan, the authority’s CEO. “Under Gov. Phil Murphy’s leadership, we continue to focus on supporting the creation of vibrant and inclusive cities and neighborhoods. Grants awarded through this program will strengthen the awardees’ ability to transform local underutilized public assets, which will lead to equitable growth opportunities in several New Jersey communities.”
Eligible grants must target distressed public assets, unutilized or underutilized public property or unutilized public lands owned by a New Jersey municipality, county, independent authority, bureau, commission or other public body, according to the EDA. Proposed plans may include, but are not limited to, conceptual design, feasibility studies and economic or market analyses.
Additionally, projects should also demonstrate a strong connection to the state’s development objectives by creating or catalyzing a new business sector or target industry, driving economic growth and equity or creating an innovative use for an asset, the authority said. Other key objectives include expanding access to public transportation or public services, attracting employers and a diverse, talented workforce, expanding entrepreneurial opportunities and support for local businesses and improving land use efficiency and sustainability.
The EDA is accepting applications for the New Jersey Asset Activation Planning Grant Program — which is being provided through its Economic Recovery Fund — until Oct. 24 and will review and score them on a first come, first served basis. Applications will be scored on asset impact, community engagement, previous experience and other factors.
A complete list of eligibility and scoring criteria can be found at https://www.njeda.com/asset-activation-planning-grant/.
