HMFA Announces $15 million in tax credit awards

The New Jersey Housing Mortgage Finance Agency released the 2007 Low Income Housing Tax Credit awards today for the spring round. The total tax credit allocation in this round was $15,054,886.

Thirteen (13) different projects were funded. A total of one thousand fifty (1,050) low income units will be developed out of a total of one thousand sixty-two (1,062) total units.

To view the full list click here.

Two (2) supportive housing projects were funded. These were East Orange General Hospital and the other was the Hoboken YWCA. East Orange General Hospital will create twenty-four low income permanent, affordable and supportive housing units. Monarch Housing Associates was the development consultant for this project.

The Hoboken YWCA will create ninety-one (91) low income units and five (5) other units.

To view the rankings of this year’s projects click here.

To view the scoring of this year’s projects click here.