By the Numbers: Investing in Atlantic City Neighborhoods

By Elizabeth Terenik, Chelsea Economic Development Corp, Dr. Natalie Devonish, Inlet Community Development Corp, Michael Cagno, Ducktown Community Development Corp, and Samantha Kiley, Midtown Community Development Corp.

Several neighborhood-based community nonprofit organization are having a positive impact on Atlantic City, with the help of a state tax credit program funded by the business community, including two casinos.

Tropicana Atlantic City and Ocean Casino Resort are two businesses participating in the New Jersey Neighborhood Revitalization Tax Credit (NRTC) Program. Along with other local businesses such as Fulton Bank, Ocean First Bank, PNC, Parke Bank and Spencer’s, the corporations receive a dollar-for-dollar tax credit against their New Jersey state taxes by investing in nonprofits that have a comprehensive state-approved neighborhood plan.

The program was established in 2002 to foster the revitalization of New Jersey's distressed neighborhoods primarily through housing and economic development projects. Atlantic City became eligible to participate in the program in 2015, and has received funding every year starting in 2021. In 2024, each of the four neighborhood organization received the maximum amount of $1 million, highlighting the support the community development corporations receive from the casinos and other funding partners due to the impressive array of projects and programs they have instituted.

NRTC funding has been extremely effective in Atlantic City, going directly to residents and small businesses.  The CDCs have funded signature events like the Best Empanada Challenge to increase sales and drive new customers to Chelsea's locally owned Latino restaurants. Other events include farmers markets, movies in the park, fitness classes, and concerts. 134 events have been funded through the city with NRTC funds.

 

 

Increasing homeownership is a top priority for all the neighborhoods. The NRTC program provided funds for 20 renters to become homeowners, helping to create intergenerational wealth and stabilize neighborhoods.  The CDCs are also working to improve housing, with four residential rehabs and one new home construction underway.

Public safety is also a major concern, and the 17 security and 150 doorbell cameras installed have solved crimes, captured accidents, and made residents feel safer in their homes. The CDCs have also hired extra patrol officers to increase the public safety presence and keep communities safe.

Beautification efforts, especially in the Tourism District of Atlantic City, have resulted in nine park renovations, 25 commercial façade improvements, and 13 residential facades projects. The CDCs have installed 92 trees, 134 flower boxes and commissioned 46 mural and art projects.

Perhaps most impressive, the four Atlantic City CDCs work collaboratively, cost-effectively, and are accountable to the communities they serve. Recently they joined forces to obtain an additional $1 million grant from the N.J. Economic Development Authority to provide new wayfinding signs, marketing and branding of the city’s cultural assets such as parks, historical monuments and public art. They share successes and learn from each other.

Atlantic City’s future is bright as the neighborhoods flourish under the direction of the community-driven 10-Year Plans. The strategies are executed by results-oriented grassroots organizations that provide direct support to the community.