NJEDA Seeks Feedback on the Food Desert Relief Tax Credit Program
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 session to solicit public feedback on the program.
The Food Desert Relief Tax Credit program encourages 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. Awards of up to 40 percent of project costs are available for 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.
Members of the public 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 comment 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 comment until January 9th. To provide feedback on the Food Desert Relief Tax Credit Program online click here.
Members of the media interested in attending the session or submitting questions are asked to email email@example.com.
For more information on the Food Desert Relief Act and Food Desert Community designations, visit https://www.njeda.com/food-desert-relief-program/.