Today the Federal Home Loan Bank of NY released their list of projects receiving awards from the second round of the 2007 Affordable Housing Program grants. Eighteen (18) New Jersey projects were approved for $6,807,105. This funding will fund seven hundred fifty (750) affordable units. Two (2) additional projects in NJ are the first two on the waiting list. They would develop a total of one hundred twelve (112) units and receive $480,361 dollars in AHP grants if they are funded. Congratulations to all of the successful applicants!
Note that the application form for the 2008A round will be available on the Federal Home Loan Bank of New York (FHLBNY) website on or around February 1, 2008. The submission deadline will be April 1, 2008 at 5:00 PM.