Asset Activation Planning Grant

Asset Activation Planning Grant is sponsored by New Jersey Economic Development Authority (NJEDA). Helps organizations develop plans to revitalize under-utilized public assets, including those serving youth development.

New Jersey Asset Activation Planning Grant - NJEDA All grant funding have been awarded for Round 4 of the New Jersey Asset Activation Planning Grant. The Program is not currently accepting applications.

Please check this page for program status updates and news The New Jersey Asset Activation Planning Grant will award grants of up to $100,000 to public, private, or non-profit entities, for early-stage planning and analysis that will demonstrate viability of projects that activate under-utilized public assets that benefit their communities and the regional economy (Owner Occupied Commercial Real Estate or Equipment) Line of Credit Guarantee $750,000.

01 – $1 million Refinancings are capped at $2. 5 million. Access up to $5 million in financing for owner-occupied commercial real estate, equipment, or working capital needs.

Flexible Financing Options: Finance your project through direct NJEDA loans or, in partnership with NJEDA Premier Lenders, through loan participations or line of credit guarantees. Terms up to 30 years for real estate, 10 years for equipment, 7 years for working capital. NJEDA fixed interest rates based on U.S. Treasury rates.

New Jersey-based small businesses in operation for at least two full years (nonprofits for at least 3 full years) that: Have no more than 750 employees. Commit to the retention and/or creation of one new full-time job for every $65,000 of NJEDA exposure within 2 years of closing. Meet a 1.

1x global debt service coverage ratio; 1. 0x debt service coverage for nonprofits. Secure the loan with fixed assets (e.g. real property and machinery/ equipment).

Homebased businesses are ineligible. Additional eligibility requirements are outlined in the NJ LEND board memo and product specifications. The New Jersey Asset Activation Planning Grant Program will provide grants of up to $100,000 directly to grantees for pre-development planning that will demonstrate viability of projects that activate under-utilized public assets that benefit their communities and the regional economy.

Proposed plans may include, but are not limited to: Redevelopment Needs Assessment and/or Plan Proposals must demonstrate to what extent the utilization of a public asset will be improved by the proposed project and how development or use of a public asset will benefit the regional economy and the community.

Proposals should target deficient, under-utilized, or vacant land, buildings, or infrastructure owned by a county, municipality, district, public authority, public agency, or other political subdivision or public body.

Plans should demonstrate a strong connection to the State’s development objectives through project elements, such as: Creating or catalyzing a new business sector, or target industry Driving economic growth and equity Creating an innovative use for distressed public assets, unutilized or underutilized public property or unutilized public lands Expanding access to public transportation or public services Attracting employers and a diverse, talented workforce Expanding entrepreneurial opportunities and support local businesses Improving land use efficiency and sustainability Qualified applicants are defined as a New Jersey: New Jersey Municipalities, Counties, Redevelopment Agencies, or Independent Authorities, Non-profit entities that meet additional criteria detailed below, and hold a valid New Jersey tax clearance certificate, or Private, for-profit entity that meet additional criteria detailed below and holds a valid New Jersey tax clearance certificate.

An Applicant in a lead role is the entity that is the sole recipient of grant funds and responsible for all terms of the grant agreement. The lead role applicant will serve as the primary point of contact with the Authority, submit any requests for fund disbursement, and provide reports to the Authority.

An applicant may only submit one application each in a lead role but can be included as a partner in additional applications where they play a non-lead role. Any named strategic partner or partners included in the proposal cannot be changed without the prior written consent of the Authority.

Applicants may add strategic partners whose experience, knowledge, skills, and ability may provide an advantage in the production of analyses and reports. The strategic partnership must be recognized by a signed memorandum of understanding or a written agreement between the partner and the applicant and included in the completed application.

Applicants must provide a letter of approval from the chief executive of the public entities that hold ownership of the subject property. Assets owned by The State are not eligible for project applications, however assets owned by Independent State Authorities are eligible when accompanied by a letter of approval.

A proposal on behalf of a county or independent authority does not preclude a municipality within that county; or municipality or county within boundary of independent authority; or independent authority whose boundaries overlap a municipality or county from submitting their own proposal.

Please be advised: New Jersey State law prohibits most cannabis license and certification holders from receiving or continuing to receive an economic incentive from the NJEDA.

If the applicant, or any person who controls the applicant or owns or controls more than one percent of the stock of the applicant, has applied for or received a license or a certification from the New Jersey Cannabis Regulatory Commission (NJ-CRC), the applicant is ineligible for this program and should not proceed with an application.

If an application is received from an applicant that meets this criteria, the application will be declined and the application fee will not be refunded. Grant awards will be up to $100,000 All Applicants who are successfully awarded a grant will follow a uniform disbursement schedule.

The lead entity will receive 50% of the grant amount upon execution of grant agreement, and 25% upon completion and submission of a mid-way progress report, and 25% upon completion and submission of a final plan and final progress report.

An application fee waiver may be requested at the time of application for proposals led by municipalities or municipal authorities, boards, commissions, or other municipal entities ranked in the top 10% of the Municipal Revitalization Index Application Checklist Application Checklist Frequently Asked Questions Program Specifications