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Food Desert Relief Supermarket Tax Credit Program
Rolling Application
Deadline:
Start Date:
Eligibility
- Newly constructed or rehabilitated supermarkets or grocery stores in a designated Food Desert Community (limited to two per FDC)
- Stores with at least 16,000 square feet where at least 80% of square footage is occupied by food and related products and at least 10% of retail space is devoted to fresh and/or frozen fruits and vegetables
- Proof that the store would not be economically feasible without the tax credit award, but with the tax credit award, it would operate on a full-time basis for seven years after opening and be economically and commercially viable by the end of that period
- Be open for business to the public within six months of the receipt of a temporary Certificate of Occupancy or within three years of executing the incentive award agreement corresponding to the project [subject to possible extensions approved by the NJ Economic Development Authority (NJEDA)]
- Acceptance benefits from federal nutrition assistance programs, including SNAP and WIC, and to holding a public listening session in the FDC at least one a year
Benefits
- Developers will be eligible to receive tax credits up to 40% of the total project cost for the first approved supermarket/grocery store in an FDC and up to 20% for the second approved supermarket/grocery store in an FDC, capped at the project financing gap
- Owners/operators of supermarkets/grocery stores will be eligible to receive three years of tax credits up to 100% of initial operating costs for the first approved supermarket/grocery store in an FDC and up to 50% of initial operating costs for the second approved supermarket/grocery store in an FDC, capped at the initial operating shortfall