By: Richard L. Smith
Officials at th New Jersey Economic Development Authorities are in the final stages of releasing about $40 million of relief funds to assist the state's 50 areas where adequate food, including fresh fruit and vegetables, is considered scarce and hard to obtain.
On Friday, the New Jersey Economic Development Authority (NJEDA) released information on the state’s Food Desert Relief Tax Credit Program and announced dates for public listening sessions.
New Jersey's Food Desert Relief Program will offer up to $240 million in tax credits, loans, grants and technical assistance over the next six years to attract providers to these 50 underserved areas.
The New Jersey Economic Development Authority estimates 1.5 million residents live in one of these so-called deserts, including 330,229 in Essex County, 133,609 in Passaic County and 10,478 in Morris County.
NJEDA said The Food Desert Relief Tax Credit program encourages the sustainability of supermarkets for a lasting impact on communities.
To be eligible, applicants must demonstrate that with the tax credit award, the supermarket will remain open for business for at least seven years.
The program will award up to 40 percent of project costs are available for the development of the first new or substantially rehabilitated supermarket in a designated Food Desert Community (FDC), while the second supermarket in an FDC can be eligible for an award of up to 20 percent of project costs.
Awards will also be available to fill a shortfall in initial operating income, including a reasonable operating profit, NJDEA officials said.
The NJEDA, in collaboration with the Departments of Community Affairs and Agriculture, previously designated 50 FDCs across the state, approved by the NJEDA board in February 2022.
These FDCs will be targeted by a variety of programs to increase access to affordable, nutritious food through funding for supermarkets, small- and mid-size retailers, and other entities that support food security initiatives.
The program that will be the focus of the upcoming public listening sessions is the Food Desert Relief Tax Credit Program, which aims to support the development and initial operations of new supermarkets and grocery stores in these communities.
Public members are encouraged to review the preliminary information and submit written feedback through an online form available on the Economic Recovery Act website.
The NJEDA will also be hosting two listening sessions for public input on the proposed information for the Food Desert Relief Tax Credit Program.
There will be an in-depth presentation by NJEDA representatives, with time allowed for questions, comments, and feedback. Members of the public will have the opportunity to offer comments on the information presented.
The virtual sessions will be held:
- Thursday, January 5th, 2023 – 11:00 a.m. to 12:30 p.m. Link to session: https://njeda.zoom.us/webinar/register/WN_6Q4P-hajQrukoeqt8nrY9w
- Friday, January 6th, 2023 – 3:00 p.m. to 4:30 p.m.Link to session: https://www.njeda.com/event/public-listening-session-food-desert-tax-credit-program-2/
Those unable to attend these sessions and those that wish to submit written feedback will be able to submit public comments until January 9th.
To provide feedback on the Food Desert Relief Tax Credit Program online, click here.