Columbia Bank has invested $95,000 in Neighborhood Revitalization Tax Credit Funds to support Greater Bergen Community Action and Habitat for Humanity of Greater Newark. The funds will be utilized to fulfill comprehensive restoration plans for housing and economic development, supportive services and other neighborhood regeneration activities.
The monies for GBCA will assist the River to Rail Neighborhood District in Garfield, a historically disenfranchised and underserved community. Strategic project activities include filling vacant storefronts in the business district, improving the economic stability of the neighborhood and helping to boost household wealth, while increasing property values and the town’s aesthetics. Additionally, the funding will support a residential rehabilitation program to revitalize properties and raise household equity and values throughout the neighborhood.
HFHGN funding will aid in the preservation and regeneration of Habitat Newark’s West and Central Village neighborhood, where residents are socioeconomically insufficient compared to other areas in the city and state. That will help meet the need for affordable housing, community resources and transformation of the area into a community of choice.
“Columbia Bank is committed to addressing the needs of the communities we serve; most importantly, contributing to neighborhood investment and economic development opportunities. We are happy to support Greater Bergen Community Action and Habitat for Humanity of Greater Newark, and to do our part to help build more vibrant, resilient communities,” Thomas Kemly, CEO and president of Columbia Bank, said.