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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 www.facebook.com/JCPandL.

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 www.interfaithneighbors.org.

www.firstenergycorp.com

SOURCE FirstEnergy Corp.

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 This material may not be published, broadcast, rewritten or redistributed.

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