MAYOR BOOKER TO JOIN CHASE TO ANNOUNCE FIRM’S $4 MILLION INVESTMENT IN NEW JERSEY COMMUNITY CAPITAL, ON THURSDAY, DECEMBER 1, AT 10 A.M., AT 284 SOUTH 11TH STREET, NEWARK
Investment will help preserve affordable housing in New Jersey;
Newark to benefit from organization’s focus on neighborhood revitalization
Newark, NJ – November 30, 2011 – Mayor Cory A. Booker, Members of the Newark Municipal Council, Deputy Mayor of Economic and Housing Development Adam Zipkin, Director of Housing and Real Estate Michael Meyer, Chase New Jersey Community Relations Manager Elliott Lee, New Jersey Community Capital President Wayne Meyer, The U.S. Department of Housing and Urban Development Community Planning and Development Director, Newark Office Annemarie Uebbing will announce a $4 million grant from Chase to New Jersey Community Capital (NJCC) to help preserve affordable housing and expand the organization’s work in revitalizing New Jersey’s most distressed neighborhoods, with a major focus on Newark. The announcement will take place on Thursday, December 1, at 10 a.m., at 284 South 11th Street, in Newark.
Newark was selected as the site of the announcement due to the innovative and holistic approach the City and its community partners have taken since the onset of the mortgage and foreclosure crisis. The site of the announcement is a home in Newark’s West Ward that is one of 47 vacant properties in Essex County – including 21 in Newark – which NJCC purchased at a discount from Chase in 2009 to rehabilitate and find permanent tenants. In addition to the grant, Chase has invested more than $3.1 million in NJCC during the last seven years to enhance the organization’s continued leadership in the revitalization of New Jersey’s distressed neighborhoods.
WHO: Mayor Cory A. Booker, Members of the Newark Municipal Council, Deputy Mayor of Economic and Housing Development Adam Zipkin, Director of Housing and Real Estate Michael Meyer, Chase New Jersey Community Relations Manager Elliott Lee, New Jersey Community Capital President Wayne Meyer, and The U.S. Department of Housing and Urban Development Community Planning and Development Director, Newark Office Annemarie Uebbing.
WHAT: Will announce Chase’s $4 million investment in New Jersey Community Capital, to help preserve affordable housing and expand NJCC.
WHEN: Thursday, December 1; 10 a.m.
WHERE: 284 South 11th Street (Between 12th Avenue and 13th Avenue) Newark
Contacts: Press Information Office – (973) 733-8004.
E-mail: Pressoffice@ci.newark.nj.us
JP Morgan Chase: Mike Fusco – (212) 270-5089
E-mail: Michael.f.fusco@chase.com
New Jersey Community Capital: Peter Grof – (609) 989-7766, ext. 406
E-mail: pgrof@njclf.com
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