WASHINGTON, DC -U.S. Senator Robert Menendez (D-NJ) today introduced his Choice Neighborhoods Initiative (CNI) which would provide $350 million in competitive grants to support comprehensive local neighborhood transformation plans that address affordable housing and to improve access to transportation, schools and jobs.

"If we are going to truly transform our most distressed neighborhoods, we must take a comprehensive approach which recognizes the need to connect affordable housing with good schools, good jobs and good transportation," said Menendez. "That's exactly what this initiative does by providing the tools our local communities need to leverage private investment, build on their strengths and revitalize their neighborhoods."

First funded by Congress in 2010, Choice Neighborhoods builds on the HOPE VI public housing revitalization program. HOPE VI created nearly 86,000 homes in healthy, mixed-income communities that were once troubled by distressed public housing - a legacy CNI seeks to expand upon. Though the CNI program has been funded by Congress the past few years, it has been inadequate given the high demand for community revitalization. Just as difficult for the program is that it has not been authorized in statute, meaning it doesn't have to be considered for funding year to year. In addition to giving distressed communities the tools to reinvent themselves, Sen. Menendez's CNI bill adds stability for potential grant applicants, by authorizing the program for five years. It also nearly triples the level of funding available to fund worthy projects over the last two years combined ($110 million).

Choice Neighborhoods in New Jersey

In 2011, the Jersey City Housing Authority received a $250,000 CNI planning grant from HUD that was helpful in creating a community vision for the redevelopment of the McGinley Square- Montgomery Gardens Corridor that was one of nine national finalists for the 2012 CNI allocation. This hard work and planning would again make Jersey City's project, a leading contender for the newest round of CNI funding.

The McGinley Square - Montgomery Gardens Corridor project will focus on rehabilitating flood-prone housing, and building two new charter schools. The goal is to improve the affordable housing stock and increase resident access to services and high quality education. This Jersey City distressed housing project is already located close to the PATH train station, to New York, and to job opportunities.

The project is estimated to be worth a potential $29 million in federal funds that could attract nearly $296 million more in commitments from private and public investors according to officials at the Jersey City Housing Authority.

Summary of Menendez's Choice Neighborhoods Bill, S.437:

• Awards competitive grants to assist in the transformation, rehabilitation and preservation of public housing and privately owned HUD-assisted housing.

• Increased availability of grant funding through HUD, for local partners to submit transformation plans that address housing, supportive services, and other neighborhood needs such as education, recreation, and transit.

Boosts resources for Choice Neighborhoods to $350 million in FY 2013 nationwide from only $110 million in FY 2010 and 2011 combined.

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