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Capital Gains Newsletter
In This Issue
Affordable Housing in Jersey City
New Jersey Citizen Action to Honor Wayne Meyer
HUD Awards $20.7 Million Grant

wayne
New Jersey Community Capital President Wayne T. Meyer
 
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Issue: # 1 May/2010
Greetings!

New Jersey Community Capital is pleased to announce our newest quarterly e-newsletter - Capital Gains - which is designed to keep our community partners, investors, supporters and clients updated on our latest projects and partnerships to revitalize neighborhoods across New Jersey.  This free on-line publication will provide a wealth of information about our innovative financial solutions that help strengthen communities statewide.  

We are so proud of our partners and the communities we support.  That is why we are delighted to now be able to share the story of our work in a timelier manner through this new exciting medium.  This newsletter provides a wonderful opportunity to show the many different facets of New Jersey Community Capital and how we work collaboratively with our partners to make New Jersey a better place to live, work and raise a family.

New Jersey Community Capital's e-newsletter will be filled with featured articles on current initiatives, as well as our plans for projects on the horizon.  We will also include news and trends in the field of community development, reports on government regulations that impact our efforts, and background on our extensive financial and consulting services.  

It is our goal to make this electronic publication as relevant and useful as possible to our all stakeholders.  To that end, we are asking our partners to contact us if they have suggestions on items that should be included.  It's important to us that we highlight the initiatives that matter most to the people we work with and support.  Please send your feedback to newsletters@njclf.com.

Thank you again for your continued support.  We hope you will enjoy this inaugural edition of our e-newsletter and that it will have you looking for our next edition in a few months!  

Warm regards,
 wayne's signature
Wayne T. Meyer, President
 
New Jersey Community Capital and Jersey City Episcopal Community Development Corporation Partner to Provide Affordable Housing Options in Jersey City
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On March 31st, 2010, Jersey City Episcopal Community Development Corporation (JCECD) purchased the first property in Jersey City through the National Community Stabilization Trust's (NCST) First Look REO Acquisition Program.  New Jersey Community Capital has the distinct honor of having facilitated the purchase of the foreclosed and vacant property as the NCST Community Coordinator for New Jersey, as well as providing the critical lending capital for such a purchase to JCECD.  

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New Jersey Citizen Action to Honor Wayne Meyer For Leadership in Neighborhood Revitalization
wayne New Jersey Community Capital President Wayne T. Meyer is being honored for his notable efforts in neighborhood stabilization and foreclosure mitigation by New Jersey Citizen Action at their annual awards reception May 13. New Jersey Citizen Action is the state's largest citizen watchdog coalition and works to promote economic, social, racial and political justice for all New Jersey residents.  The organization is recognizing Mr. Meyer for his exceptional leadership in helping rebuild neighborhoods across Essex County that have been particularly hard-hit by the foreclosure crisis.

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HUD Awards $20.7 Million Grant to Newark-Essex NSP2 Consortium to Stabilize Neighborhoods in Newark
newark project New Jersey Community Capital will have a major hand in rebuilding neighborhoods in Newark and urban Essex County especially hard hit by the mortgage crisis thanks to a significant Neighborhood Stabilization Program 2 (NSP2) grant recently awarded by the US Department of Housing and Urban Development (HUD) through the American Recovery Act.  The Newark-Essex NSP2 Consortium is a unique regional public-private consortium of 12 organizations formed in 2009 to spur economic growth and address the escalating challenges associated with the dramatic increase in home foreclosures in Essex County.  NJCC is set to receive approximately 10% of the $21 million award for use as a loan loss reserve for neighborhood stabilization projects associated with the application.

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