The Red Bank RiverCenter’s zero-interest loan from the Downtown Business Improvement Zone Loan Fund program that was recently approved will provide funds to improve visual appeal, safety and continue revitalization efforts in Red Bank’s downtown business district, according to a press release.
In the press release, Eric Houghtaling (D-Monmouth) and Joann Downey (D-Monmouth) announced that the New Jersey Department of Community Affairs (DCA) granted a $500,000 award in response to the RiverCenter’s bid.
“Last summer we provided a letter of support urging the department to approve RiverCenter’s loan request, and it is gratifying to see the process come full circle,” Houghtaling said. “RiverCenter does great work for Red Bank and this will certainly help them continue their mission.”
The RiverCenter is a nonprofit organization that was established in 1991 by an alliance of local businesses, property owners, residents and other stakeholders to enhance and promote Red Bank’s downtown district as a mid-Atlantic destination for dining, shopping, and culture, according to the organization’s website.
“Red Bank has become one of the best downtown destinations in New Jersey and we are so proud to see business owners and residents coming together to better their town,” said Downey said. “We are looking forward to seeing how RiverCenter puts this loan to work in continuing revitalization efforts.”
