Company behind NJ offshore wind project opening offices in Newark May 21, 2021
7:19 am
The Danish company behind the massive, 1,100-megawatt offshore wind project off the coast of Atlantic City is moving several of its operations to Newark later this year, it announced on May 20.
As part of the move, Ørsted North America will open an office in New Jersey’s largest city to handle its digital operations for North America, namely its offshore wind infrastructure.
State officials are eyeing the offshore wind and clean energy industry as key economic sectors for the state’s post-COVID economic recovery. Gov. Phil Murphy’s goals call for the availability of 7.5 gigawatts of offshore wind by the year 2035.
The Office of the Comptroller of the Currency, which regulates most of the nation’s banking system, announced on Tuesday it was pausing implementation of new regulations under the Community Reinvestment Act, or CRA. Passed in 1977, the act was intended to help counteract redlining and other discriminatory lending policies and practices that denied access to capital for low-income communities, particularly Black and immigrant communities.
The Office of the Comptroller of the Currency shares responsibility for CRA enforcement with the Federal Reserve and the FDIC, both of which rejected the Comptroller’s changes last year. The changes would have resulted in two sets of CRA rules for different parts of the banking industry. That scenario is now unlikely. Consumer advocates, community development organizations, fair housing groups and even the banking industry applauded the move by the Comptroller’s office, with universal agreement that there should only be one consistent set of
Murphy admin, University Hospital collaborate to create affordable housing May 19, 2021
11:41 am
The Murphy administration on May 19 announced a collaboration with University Hospital in Newark and L+M Development Partners, Type A Projects and MSquared under the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) Hospital Partnership Subsidy Program to provide vital affordable and supportive housing – including homes for frequent users of emergency services – in their host communities.
This project will provide 78 affordable rental apartments that will serve low- and moderate-income households to promote economic diversity in the Fairmount neighborhood of Newark.
Sixteen supportive housing units will be reserved for homeless individuals and families, and these will be supported by project-based rental vouchers provided through the New Jersey Department of Community Affairs’ Housing Choice Voucher Program. All supportive units will be paired with access to medica
Editorial: America needs more than just words from leaders, it needs action thesetonian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesetonian.com Daily Mail and Mail on Sunday newspapers.