Valley Provides Champion Level Support for Community Development

News | 10/30/2019

Community TeamWAYNE, NJ – October 30, 2019 – Valley provided Champion level support for the Housing and Community Development Network of New Jersey’s (The Network), Annual Community Development Conference & Membership Meeting held on Friday October 18th at the Hyatt in New Brunswick. More than 300 policy, planning and organizing experts, as well as public and business leaders from around the state celebrated the economic impact of NJ's CDCs at 30 Years. The Network unveiled “Thriving Together,” its report on the economic impact of NJ’s nonprofit community development sector over the last five years. This report was an update to an earlier report showing a $12 billion impact from 1989-2014. According to the new report, the community development sector more recently generated $2 million for the state’s economy by creating affordable homes, jobs, and businesses as well as putting vacant and abandoned properties back on local tax rolls. See the Thriving Together Report here.


Charles Richman, Executive Director of the NJ Housing Mortgage Finance Agency cited the state of New Jersey’s financing for providing Low Income Housing Tax Credits. The financing resulted in 6000 units of affordable housing in two years, as well as innovative collaborations to improve health outcomes for seniors in partnership with hospitals. The Honorable Phil Murphy was also present to receive The Network’s Community Development Champion award, citing his efforts to secure funding of the Affordable Housing Trust Fund.
 
About Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 250 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities and strong communities. For more information on the Network, visit www.hcdnnj.org


About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $32 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates more than 200 branches across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Service Center at 800-522-4100.