OceanFirst Bank gives $1 million to NJ neighborhood revitalization program.

July 25, 2022

A $1 million contribution by OceanFirst Bank will assist three South Jersey-based non-profit organizations in their community development efforts, as part of the 2022 DCA NRTC Program. According to a press release issued by DCA, the organizations that were approved for funding, a portion of which was provided by OceanFirst Bank, included:

• AtlantiCare Foundation will be assisting the Midtown neighborhood of Atlantic City with a $540,000 award approved by DCA for the NRTC Program;
• Camden Community Partnership will be assisting the Cramer Hill neighborhood of Camden with a $985,000 award approved by DCA for the NRTC Program;
• Holly City Development Corporation will be assisting the Center City neighborhood of Millville with a $798,396 award approved by DCA for the NRTC Program.

The three organizations serve communities with more than 100,000 residents and will apply the NRTC funding to such initiatives as affordable housing construction/rehabilitation, small business assistance, employment training, crime prevention, parks and recreation, and other social services and neighborhood improvements.

This is the second year OceanFirst has contributed to the NRTC Program, with the Bank’s contributions now totaling $1.5 million.

Dana L. Redd, Chairperson of Camden Community Partnership, said about the NTRC funding the organization received, “We are very grateful and appreciative to Ocean First Bank for their support and commitment to Camden City, the Cramer Hill Neighborhood, and Camden Community Partnership. It is these types of partnerships that help make a meaningful impact into our communities.”

Heather Santoro, Executive Director Holly City Development Corporation, commented about the NTRC funding the organization received, “We are excited to have Ocean First be one of our partners and sponsors in this year’s NRTC application. They have partnered with us in several community projects throughout the years and we are happy to continue that partnership through the NRTC.”

“We are proud to contribute to the Neighborhood Revitalization Tax Credit Program and are pleased that AtlantiCare, Camden Community Partnership, and Holly City Development Corporation were among the non-profit organizations selected by the Department of Community Affairs to receive the funds provided by OceanFirst,” said Vincent D’Alessandro, Community Bank President at OceanFirst Bank N.A. Mr. D'Alessandro added, “The NRTC Program is a win-win, benefitting our neighbors in need and our local communities.”

About OceanFirst Bank N.A.

OceanFirst Bank N.A. is a $12.2 billion regional bank founded in 1902 and is a subsidiary of OceanFirst Financial Corp. (NASDAQ: OCFC). OceanFirst provides financial services throughout New Jersey and the major metropolitan markets of Philadelphia, New York, Baltimore, Washington D.C., and Boston. The Bank delivers commercial and residential financing, treasury management, trust and asset management, and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.

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