Innovation Challenge Program is now accepting applications, providing municipalities with funding for undeveloped communities or underutilized properties. The grants are up to $100,000 for each eligible county or municipality.
Last year, the New Jersey Economic Development Authority (EDA) launched a 21st Century Redevelopment Program that would provide planning grants for communities to re-channel commercial and retail properties that are vacant and/or underutilized. The new Innovation Challenge Program is now accepting applications for the second time, providing municipalities with funding that would contribute to the economy of such communities that are undeveloped or presents to have underutilized properties. The second round of funding is up to $500,000 and would allow for grants up to $100,000 for each eligible county or municipality.
The Innovation Challenge Program is a state program that only allows for New Jersey local or county government, a municipal partnership representing a combined population of 25,000 or more; and, a regional partnership representing at least a population of 100,000 or more to participate.
Applications will be accepted up until the total program allotment has been exhausted, or Friday, January 25, 2019, at 5:00 p.m. (whichever is sooner).