This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

JCP&L To Make $400,000 Investment In West Side Asbury Park Neighborhood Revitalization Tax Credit Program

Stocks in this article: FE

MORRISTOWN, N.J., Feb. 19, 2013 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) will make a $400,000 investment in the Interfaith Neighbors Inc. through the New Jersey Department of Community Affairs Neighborhood Revitalization Tax Credit (NRTC) Program to help support a 10-year revitalization plan of the West Side of Asbury Park.

Since 2007, JCP&L has invested $1.375 million in the NRTC project, which offers business entities a 100 percent tax credit for funds provided to nonprofit entities carrying out comprehensive revitalization plans.

Under the direction of Interfaith Neighbors, the NRTC program has improved housing, economic revitalization, community and recreation facilities, public spaces and social conditions on the West Side of Asbury Park.  These initiatives address needs identified by neighborhood residents dating back 30 years.

"Concerned and active community partners like JCP&L are the reason we have been able to complete the number of projects that will continue to benefit the residents of Asbury Park for many years," said Joseph Mamora, executive director of Interfaith Neighbors.  "JCP&L has embraced the residents' vision for the West Side, participated in the tax credit program and enabled us to work with our collaborative partners to make it a reality."

"The ongoing, successful revitalization of Asbury Park's West Side demonstrates how government, community organizations, businesses and concerned citizens can work together," said Don Lynch, JCP&L president.  "The Interfaith Neighbors NRTC Program is a model that others can learn from.  JCP&L is proud to offer our continued support to this outstanding partnership."

Initiatives that have been completed to date by Interfaith Neighbors through the NRTC project include:

  • Constructing 40 units of affordable housing
  • Design and construction of the Springwood Center mixed use building
  • Establishing the Interfaith Neighbors Business Development Center
  • Refurbishing the indoor pool at the Boys & Girls Club
  • Installing new lights for the Asbury Park Little League field
  • Fitting out space for Police Athletic League boxing and fitness program
  • Funding after-school arts programs for Asbury Park High School
  • Supporting a Boys & Girls Club mentoring program for college-bound students
  • Funding facility improvements at the West Side Community Center
  • Supporting workforce development and job placement programs for local residents
  • Supporting the expansion of the Asbury Park Big Brothers-Big Sisters mentoring program

JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE).  JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren.  Follow JCP&L on Twitter @JCP_L and Facebook at

Interfaith Neighbors Inc. is a non-profit corporation founded in May 1988.  More than 90 religious congregations of all denominations, hundreds of private donors, corporations, charitable gift trusts and foundations help to support Interfaith Neighbors. Learn more about Interfaith Neighbors at

SOURCE FirstEnergy Corp.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs