Applications for the New Jersey Economic Development Authority's (NJEDA) Cultural and Arts Facilities Expansion (CAFE) Program are now available. This program aims to support the state's arts sector by assisting in the development and rehabilitation of cultural arts facilities, including performing arts centers and museums.
"The CAFE Program will provide tax credits through a competitive process to cultural arts institutions to build or renovate facilities, including aquariums, historical societies, libraries, galleries, museums, performing arts centers, or other eligible cultural or arts facilities," an NJEDA spokesperson stated. Successful applicants can receive tax credits covering the full amount of eligible project costs, up to $75 million.
Eligible applicants are government entities and not-for-profits whose primary mission is arts and culture, or for-profit businesses receiving a federal or state historic preservation rehabilitation tax credit. Applicants must contribute 10 percent or 20 percent equity to the project, based on the project's location. The minimum project size is set at $5 million.
Additional information about the program can be found on NJEDA.com, which includes a link to translation services provided by Google Translate. However, it's noted that "Google Translate is subject to its own terms of service," and "Neither the NJEDA nor the State of New Jersey reviews the services, information, or content provided by Google Translate."
