NJIT’s Newark Live Local Program
The Newark Live Local program will be administered by Newark Alliance and is available to NJIT employees signing or renewing eligible leases in the Program Incentive Area.
Program Goals
In support of the city of Newark’s comprehensive economic development strategy of directly attracting and retaining residents to an area of the city that is vital to its overall growth, NJIT is investing $50,000 in the Newark Live Local Program for NJIT employees. The Newark Live Local program will be administered by Newark Alliance and is available to NJIT employees signing or renewing eligible leases in the Program Incentive Area. A map of the Program Incentive Area can be viewed on the Newark Live Local website which can be found here.
Program Description
The Newark Live Local Program will provide one-time incentives for eligible participants, as defined below under Participant Eligibility, to rent a primary resident in the Program Incentive Area. Once eligible, the Program will provide on a first-come basis the following:
- New renters with an up to $3,000 incentive toward the cost of their housing when relocating to the Program Incentive Area for a lease term of not less than one year;
- Existing renters within the Program Incentive Area with an incentive of up to $3,000 when an existing lease is renewed for a term of not less than one year.
- Existing renters who have renewed a prior lease or signed a new lease looking back 24 months within the Program Incentive Area with an incentive of up to $3,000. Applicants must have been a full-time employee at NJIT during the look back period.
The NJIT Newark Live Local program is administered by the Newark Alliance. The Program is subject to the availability of funds and may be cancelled or modified at any time in the sole discretion of NJIT. Incentives may not be combined, and the incentive is limited to one per household, unless specified below.
Program Effective Dates
The Newark Live Local program is being launched for a pilot period of one year. The Newark Live Local program for NJIT employees is effective as of April 1, 2019 and will be reviewed for potential renewal after a twelve-month period.
Participant Eligibility
The Newark Live Local Program is available to full-time NJIT employees working and living in the designated Program Incentive Area. A full-time employee is, for a calendar month, an employee employed on average at least 30 hours per week, or 130 hours of service per month. Candidates must physically work in the employment location and must sign a lease within the Program Incentive Area. The Program Incentive Area is subject to change at any time in the sole discretion of the Newark Alliance.
Rental Incentive Process & Eligibility
The incentive application process is as outlined below and the awarding of the incentive is available on a first-come, first served basis:
- Participant Eligibility: The Newark Alliance determines applicant’s eligibility for participation in the Program. Steps include:
- Applicant will complete an online application at Newark-Alliance.org/LiveLocal.
- The Newark Alliance will contact applicants via e-mail regarding eligibility status
- Property Approval: The Newark Alliance determines the eligibility of the property the applicant is seeking to rent or renew and will contact applicants via email regarding property pre-approval status. If the applicant does not respond within 10 days of receiving eligibility status, their application process may be terminated.
- Release of Funds: The following steps must be completed by applicants within 45 days of the applicant’s receipt of a pre-approval notice from the Newark Alliance in order for funds to be released.
- Applicants must submit a copy of fully executed lease agreement to the Newark Alliance.
- Applicants must submit a signed Tax Acknowledgment Form to the Newark Alliance.
- NJIT will contact applicants via e-mail to confirm incentive amount and fund disbursement details.
- Application of Funds: Based upon eligibility, funds will be distributed to the participant by NJIT, through the payroll process, with ½ at time of eligibility and ½ after six months, with proof of continued eligibility
- Compliance: The following is required after the initial disbursement of incentive amount to confirm an applicant’s eligibility to receive the remaining portion of the incentive amount. It is expected that participants will use these funds to defray living expenses within the program boundaries of the Newark Live Local program. New renters must submit proof of residency after six (6) months of moving. Eligible documentation includes a copy of updated driver’s license, a utility or credit card bill, or a bank statement.