The plan was adjusted to include an additional $75 million dollars for rental housing. Of this amount $60 million will go to assist the development of Low Income Housing Tax Credit (LIHTC) projects and $15 million for public housing improvements.
This will bring the overall breakdown between homeowners and renters to 66-34. The original plan was split 72-28. This is a direct result of all of the comments that were submitted on the original plan.
This is Phase One of our disaster recovery plan,” said Christie, who made the announcement at Bahrs Landing Seafood Restaurant with U.S. Housing and Urban Development Secretary Shaun Donovan.
Now, storm victims who have been sleeping on a family member’s couch for the last six months “have hope to get back into their home very soon,” Donovan said.
The Community Development Block Grants are expected to help more than 20,000 homeowners and more than 5,000 renters.
“Rebuilding New Jersey is a monumental task and we are ready to roll-up our sleeves and get started. HUD Secretary Shaun Donovan was right to require Governor Christie to make his plan fairer and we’re glad to see that there’s an improved and more balanced allocation between homeowners and renters than what was originally proposed. Now everyone affected by Sandy has a more equal opportunity to move forward.
“Many of the Network’s members, friends, and allies have been on the ground, working tirelessly to help the residents and small businesses devastated by the storm. Getting these dollars moving in the right way will make it easier for Sandy survivors to finally get back on their feet.