Funds will be used to support revitalization plans for distressed neighborhoods

ISELIN, N.J., March 25, 2025 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, announced today that the bank has awarded $950,000 in funding to ten non-profit organizations as part of the New Jersey Department of Community Affairs, Neighborhood Revitalization Tax Credit (NRTC) Program for fiscal year 2025. The nonprofit organizations will use the funding to implement revitalization plans that address housing and economic development, provide opportunities for entrepreneurs to start businesses and job training for local residents, as well as complementary activities such as social services, recreational activities, and open space improvements. The New Jersey Department of Community Affairs (DCA) served as the intermediary agency between the non-profit organizations and Provident Bank.

NRTC program funding from Provident Bank has been awarded by the New Jersey Department of Community Affairs to the following non-profit organizations:

• Clinton Hill Community Action - $100,000 for the revitalization of the Upper Clinton Hill neighborhood in Newark.

• Greater Bergen Community Action - $50,000 for improvements to the River to Rail neighborhood district in Garfield.

• HANDS, Inc. - $50,000 for advancements to the city of Orange and surrounding neighborhoods.

• Isles, Inc. - $150,000 for youth development, community revitalization, wealth innovation and the promotion of healthy living (energy efficiency, open space improvements, and access to locally grown food) for residents of downtown Trenton and east Trenton.

• Jewish Renaissance Foundation - $150,000 for the Perth Amboy Alliance for Community 2025.

• New Jersey Community Development Corporation - $100,000 for the improvement of the Great Falls/Spruce Street neighborhood of Paterson.

• NORWESCAP South Main Street - $50,000 for the revitalization of the South Main Street neighborhood in downtown Phillipsburg.

• NORWESCAP Sussex Borough - $50,000 for the revitalization of downtown Sussex Borough.

• Paterson Habitat for Humanity - $150,000 for Eastside Homes, Youth Development & Green Spaces for Everyone in the Northside neighborhood of Paterson.

• Perth Amboy Redevelopment Team for Neighborhood Enterprise and Revitalization- $100,000 for community improvements, housing services and economic opportunities for residents of the Gateway neighborhood of Perth Amboy.

“Provident Bank is proud to support these impactful non-profit organizations through the NRTC program,” said Mary Brown, Senior Vice President, Chief Compliance Officer. “Our investment in this initiative plays a vital role in helping these organizations fulfill their missions and revitalize their communities, aligning with our ongoing commitment to supporting the neighborhoods we serve,” added Brown.