Atlantic City Revitalization Grant Program – Phase Two is sponsored by New Jersey Economic Development Authority (NJEDA). This opportunity supports mission-aligned projects and measurable outcomes.

Atlantic City Revitalization Grant Program - Phase Two - NJEDA ATLANTIC CITY REVITALIZATION GRANT PROGRAM – PHASE TWO The application period for the Atlantic City Revitalization Grant Program – Phase 2 is closed. Applicants may request a grant amount from a minimum of $250K to a maximum of $2. 5M.

Grant funds may cover up to 50 percent of eligible capital project costs (soft and hard construction costs). Improve the communities and neighborhoods within Atlantic City. Revitalize Atlantic City from the impacts of COVID-19.

For-profit or non-profit entities responsible for overseeing a real estate development project and coordinating the activities related to the project, including, but not limited to, project design, project financing, and permitting and local approvals, are eligible to apply (each, an “Applicant” or “Developer The Atlantic City Revitalization Grant – Phase Two program will award grants between $250K and $2.

5M for capital projects that address and improve the communities and neighborhoods within Atlantic City. This relaunch of the Atlantic City Revitalization Program (“Program”) will continue to facilitate Atlantic City’s effective utilization of allocated funds for community-driven capital projects.

The goal of this Program is to proactively address the negative economic impacts of the pandemic by investing in projects that demonstrate an ability to cultivate the environment and neighborhoods necessary to attract and retain a local workforce, enable business creation and tourism, enhance downtown vitality through small business support efforts, support clean and safe initiatives, address food insecurity issues, and buttress social impact supports for the community at large.

Administered by the Authority, this Program will support real estate development, specifically capital projects (each, a “Project”) in the form of Grants, to support rehabilitation or new construction, as well as other development costs associated with an award between $250,000 and a maximum award of $2. 5 million in grant funding to one Project.

This will then meet the requirement of “Investing in Communities” by providing funding to activate underutilized properties for community focused investments and to activate projects that will catalyze new business sectors in NJ, support communities, and improve the business community within Atlantic City.

This grant will improve investment in communities by working to activate underutilized, distressed, or vacant land for projects in order to promote equitable economic growth and community wealth building in Atlantic City.

For-profit or non-profit entities responsible for overseeing a real estate development project and coordinating the activities related to the project, including, but not limited to, project design, project financing, and permitting and local approvals, are eligible to apply (each, an “Applicant” or “Developer Entity”).

A real estate holding company or other special purpose entity that exists solely to own property or a real estate project is not eligible. Any city, State, or county entity and any colleges or universities are not eligible to apply for any support from the Program.

• Commercial project must address a community need listed in the “Local impact considerations” described below (100% residential is not eligible but mixed-used construction is eligible; must have at least 20% of the total square footage of the building dedicated to a commercial use. • No new construction projects and no sole acquisitions project are eligible.

Renovation or restoration of a vacant or partially vacant building in need of repair is eligible (if the project consists of vacant space or partially vacant it would have to be at time of application and up to approval). Project must be located within Atlantic City. New construction was allowed in the previous version of this grant but due to the limited time left to expend Federal funds, its now not eligible.

• Addresses a “Local impact consideration” as identified below and within Atlantic City. • Projects may include public infrastructure improvements that are necessary to complement or complete the Project. • All Project costs (soft and hard construction costs – no operating costs) can be included and may include predevelopment projects costs associated to the Project.

• The developer fee cannot exceed 8% of total Project costs. • All Projects must be fully completed by the end of calendar year 2026 (as per US Treasury deadlines). Grants will be subject to federal Duplication of Benefits requirements.

• A cost reasonableness analysis will be completed prior to any Project being approved. • Contingencies of total Project costs cannot exceed 10% on hard Project costs and 5% on soft Project costs. The Grant amount shall not increase after approval due to contingencies.

• Any awardee that closed on their grant agreement for a Real Estate Grant under the NJEDA Activation Revitalization Transformation (ART) Program established by the Authority is not eligible to apply for this Program. • Projects that have started construction are not eligible. Construction, including demolition and remediation, cannot start until approval.

Project Eligibility Considerations (necessary for federal guidelines) Since the Program is funded through federal resources that were meant to mitigate the negative impacts of COVID-19, applicants must demonstrate how the Project will benefit the community.

All Projects will need to address and demonstrate how they meet the following requirements at time of application: COVID impact : Applicants must certify that the Project is responsive to the negative public health and/or economic impacts of the COVID-19 pandemic and complies with all the ARP program requirements.

Capacity : The applicant must certify they have experience implementing at least three similar scope and size projects (similar budget size and scope) and provide documentation except if the applicant is selecting to support a “Small Business Efforts” or “Food Insecurity Efforts” box as their local impact consideration at time of application, in which case the experience requirement is waived.

Long-term impacts : Applicants must certify how the project will have a positive long-term impact in the community it will be located in and the overall benefit to Atlantic City. The applicant, they must agree to a 5- year deed restriction so that the project use or ownership cannot change after the later of their last disbursement or project closeout.

Financial viability : Applicant must certify the project will be financially viable and self-sustaining after construction. The applicant will certify they are able to operate and maintain site control for the necessary time period. Also, that the applicant will meet US Treasury project completion timeline requirements.

Project completion : Applicant must certify they are aware and agree that the construction project can be completed by 12/31/26 (as per US Treasury) or they may be held liable for the recapture of the grant funds they drawdown or have received.

Local impact considerations : All Projects must address at least one of the following community initiatives to be eligible to apply (applicant will check all that apply):’ Small Business Support Efforts : Businesses that are engaged in the following are not eligible for funding: the conduct or purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene or otherwise similarly disreputable) activities, services, products or materials (including nude or semi- nude performances or the sale of sexual aids or devices); any auction or bankruptcy or fire or “lost-our-lease” or “going-out-of- business” or similar sale; sales by transient merchants, Christmas tree sales or other outdoor storage; cannabis related businesses; casinos; or any activity constituting a nuisance.

Downtown Vitality Efforts (all projects must be located from Sunset Avenue, Fairmount Avenue, Baltic Avenue to the boardwalk throughout Atlantic City).

Job and Office Space Creation U.S. Treasury reporting : Applicants must certify that they have ability to provide the U.S. Department of the Treasury with relevant reporting for all Project expenditures exceeding $1 million if necessary; specifically, all applications shall provide a narrative on how the Project will address the impacts of COVID-19 in Atlantic City, and why this capital expenditure is the most appropriate to address the economic harms caused by COVID.

Grant will cover up to 50% of all Project costs with a minimum award request of $250,000 and the maximum award request of $2. 5 million and will be provided pursuant to a grant agreement to be entered into between the Authority and the applicant. Documentation to verify the remaining amount of Project funding will be required in order to execute the grant agreement if such documentation was not provided at time of application.

The awards will be based on the total requested project costs, amount of funding, and demonstrated readiness to proceed. All eligible applications that are complete and viable will proceed to an approval. Grants will be awarded until funds are fully exhausted.

The Authority will award only one grant per applicant (one per EIN). If an applicant requests a grant for a Project which is eligible for the Program, but sufficient funding is not available to fund the full grant request, the Authority will inform the applicant of the amount of grant funds available.

If the applicant wishes, nevertheless, to proceed for approval, the applicant will be required to demonstrate that they have the financial resources to fund the difference to fill the gap to ensure the submitted Project proposal is undertaken as described.

Prior to the last disbursement of 10% of the Grant, the awarded must submit a Project close out request, which will include, but not be limited to, all necessary information to evidence completion of the project and, when applicable, a Temporary Certificate of Occupancy. Once received, staff will perform a site visit to confirm and document the completed Project (including through photographs).

Prior to the last disbursement of 10% of the Grant, the awarded must submit a Project close out request, which will include, but not be limited to, all necessary information to evidence completion of the project and, when applicable, a Temporary Certificate of Occupancy. Once received, staff will perform a site visit to confirm and document the completed Project (including through photographs).

A $1,000 application fee will be charged to all applicants at the time of application for the Program. Obtaining Tax Clearance Certificate for Private Entities — CLICK HERE Obtaining Tax Clearance Certificate for Government Entities A government entity will need to submit a paper tax clearance application in order to obtain a tax clearance certificate. They can email it to the Business Assistance email address instead of mailing it in.

Note : The application fee does not apply to government entities that must submit the paper application. The application can be found on the Division’s website : https://www. nj.

gov/treasury/taxation/busasst. shtml . Here is the link to download the Application : https://www.

state. nj. us/treasury/taxation/pdf/busasstTaxClear.

pdf . Questions can be directed to BusinessAssistanceTC. Taxation@treas.

nj. gov or 609-322-6835. APPLICATION CHECKLIST SAMPLE APPLICATION BOARD MEMO PROGRAM SPECIFICATIONS SOURCES & USES TEMPLATE FOR APPLICANTS For more information or to ask a specific question please send an email to ACrevitalization@njeda.

gov and a team member will reach out to you.