Legislation would help NJ residents face lockdown
Progressive groups are urging the Murphy administration to prioritize spending in the new state budget for people and communities most in need. On Monday, several groups known as the For the Many Coalition held a press conference to urge funding for social programs, health care, education and housing. They said continued investment in New Jersey communities will help the state’s economy get back on track.
The Biden administration is making changes to the paycheck protection program that are designed to help smaller and minority-owned businesses. Starting Wednesday, small businesses with less than 20 employees will have an exclusive two-week window to apply for PPP loans. Large companies will not be able to apply during this period. The administration will also set aside loan money for sole proprietorships, independent contractors and the self-employed. Previously, they were completely excluded from the program.
New Jersey lawmakers have given final approval to a bill designed to face residents with foreclosure on their homes. Under the legislation, the New Jersey Housing and Mortgage Finance Agency could purchase properties at risk of foreclosure and then help residents find a more affordable mortgage. Right now, due to the pandemic, a moratorium is in place that prevents foreclosures, but advocates are worried about what will happen once that is lifted.
Jersey City’s historic Loew’s Theater gets a second act. Mayor Steven Fulop on Monday announced a $ 72 million restoration that will transform the theater into a state-of-the-art venue with more than 3,000 seats. Jersey City selected Devils Arena Entertainment, which operates the Prudential Center, for the revitalization project. Construction is expected to begin next year, with an opening slated for 2025.