This bill proposes a supplemental appropriation of $10 million to the New Jersey Community Development Corporation specifically for various community projects in the City of Paterson. The funding is designated for three key initiatives: at least $4 million for the Great Falls Youth Center at 52 Front Street, at least $3 million for the establishment of a Great Falls Innovation Hub at 59 Spruce Street focused on STEM and Artificial Intelligence education, and at least $3 million for affordable housing units with ground-floor retail space at 98 Spruce Street.

The bill is part of the annual appropriations act for the fiscal year ending June 30, 2026, and it emphasizes the allocation of funds to enhance community resources and support social services programs in Paterson. The act is set to take effect immediately upon passage.