Sponsored by:
Assemblyman AL ABDELAZIZ
District 35 (Bergen and Passaic)
SYNOPSIS
Makes supplemental appropriation of $10 million to New Jersey Community Development Corporation for various community projects in City of Paterson.
CURRENT VERSION OF TEXT
As introduced.
A Supplement to the annual appropriations act for the fiscal year ending June 30, 2026, P.L.2025, c.74.
Be It Enacted by the Senate and the General Assembly of the State of New Jersey:
1. In addition to the amounts appropriated under P.L.2025, c.74, the annual appropriations act for the fiscal year ending June 30, 2026, there is appropriated from the General Fund the following amount for the purpose specified:
22 DEPARTMENT OF COMMUNITY AFFAIRS
50 Economic Planning, Development, and Security
55 Social Services Programs
GRANTS-IN-AID
05-8050 Community Resources ....................................... $10,000,000
Total Grants-In-Aid appropriation,
Social Services Programs .............................. $10,000,000
Grants-In-Aid:
05 New Jersey Community Development Corporation – Community Projects in the City of Paterson …………..($10,000,000)
2. This act shall take effect immediately.
STATEMENT
This bill provides a supplemental appropriation of $10 million for the New Jersey Community Development Corporation for various community projects in the City of Paterson. Of the $10 million, an amount not less than $4 million is be allocated for the Great Falls Youth Center located at 52 Front Street; an amount not less than $3 million is to be allocated for the location at 59 Spruce Street for the establishment of a Great Falls Innovation Hub, which will promote instruction in the STEM fields and in Artificial Intelligence; and an amount not less than $3 million is to be allocated to the location at 98 Spruce Street for the establishment of affordable housing units with ground-floor retail space.