The New Jersey Redevelopment Authority (NJRA) has responded to the impact of the COVID-19 pandemic on the state economy by developing a grant program to assist tenants and landlords with one of the sixty-four eligible communities throughout the state, including the cities of Newark, Trenton, New Brunswick, Jersey City, Bayonne, and Asbury Park.
An eligible applicant is a commercial tenant who:
- Is located within one of the sixty-four NJRA eligible municipalities;
- Has business operations that have been adversely impacted by the COVID-19 pandemic;
- Has leased premises less than 5,000 square feet;
- Was in business prior to March 1, 2020;
- Was not delinquent on lease payments prior to March 1, 2020; and
- Has not previously received local, state, or federal funding for lease/rent support as a result of COVID-19*
*It is important to note that although many taxpayers may have received support that could have been used to pay rent, the NJRA has provided guidance that indicates that applicants who received such support, for example through a Payroll Protection Program (PPP) loan, but instead used the support towards payroll or other expenses rather than rent, are still eligible to apply for the grant.
In addition to submitting a fully complete online application, eligible applicants will need to upload a copy of their current executed lease agreement as well as their current New Jersey tax clearance certificate in order to be considered for the grant. If approved, the NJRA will provide a grant agreement that is to be executed by both the tenant and the landlord, and once the agreement is executed by both parties, the funds will be disbursed directly to the landlord.
Similar to other New Jersey grant programs, the funding for the Small Lease Emergency Assistance Grant Program will be provided on a first-come, first-served basis, so eligible applicants are encouraged to submit their application as soon as possible after the application window opens on Monday, August 10th at 9:00 AM. Additional information on the program can be accessed here.