MAYOR BOOKER TO JOIN CHASE TO ANNOUNCE FIRM’S $4 MILLION INVESTMENT IN NEW JERSEY COMMUNITY CAPITAL

ON THURSDAY, DECEMBER 1, AT 10 A.M., AT 284 SOUTH 11^TH STREET, NEWARK

Investment will help preserve affordable housing in New Jersey;

Newark to benefit from organization’s focus on neighborhood revitalization

Newark, NJ R11; November 30, 2011 R11; Mayor Cory A. Booker, Members of the Newark Municipal Council, Deputy Mayor of Economic and Housing Development Adam Zipkin, Director of Housing and Real Estate Michael Meyer, Chase New Jersey Community Relations Manager Elliott Lee, New Jersey Community Capital President Wayne Meyer, and other dignitaries will announce a $4 million grant from Chase to New Jersey Community Capital (NJCC) to help preserve affordable housing and expand the organization’s work in revitalizing New Jersey’s most distressed neighborhoods, with a major focus on Newark.  The announcement will take place on Thursday, December 1, at 10 a.m., at 284 South 11^th Street, in Newark.

Newark was selected as the site of the announcement due to the innovative and holistic approach the City and its community partners have taken since the onset of the mortgage and foreclosure crisis. The site of the announcement is a home in NewarkR17;s West Ward that is one of 47 vacant properties in Essex County – including 21 in Newark – which NJCC purchased at a discount from Chase in 2009 to rehabilitate and find permanent tenants. In addition to the grant, Chase has invested more than $3.1 million in NJCC during the last seven years to enhance the organization’s continued leadership in the revitalization of New Jersey’s distressed neighborhoods.

WHO:             Mayor Cory A. Booker, Members of the Newark Municipal Council, Deputy Mayor of Economic and Housing Development Adam Zipkin, Director of Housing and Real Estate Michael Meyer, Chase New Jersey Community Relations Manager Elliott Lee, New Jersey Community Capital President Wayne Meyer, and other dignitaries.

WHAT:          Will announce Chase’s $4 million investment in New Jersey Community Capital, to help preserve affordable housing and expand NJCC.

WHEN:          Thursday, December 1

                        10 a.m.

WHERE:       284 South 11^th Street

(Between 11^th Avenue and 12^th Avenue)

Newark

Contacts:          Press Information Office – (973) 733-8004.

E-mail: Pressoffice@ci.newark.nj.us

JP Morgan Chase: Mike Fusco – (212) 270-5089

E-mail: Michael.f.fusco@chase.com

                       New Jersey Community Capital: Peter Grof – (609) 989-7766, ext. 406

E-mail: pgrof@njclf.com

-NEWARK-

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