June 30th Deadline to Apply for
State Rental Assistance Program Vouchers
The New Jersey Department of Community Affairs had announced the availability of 300 State Rental Assistance Program (SRAP) project-based vouchers for the purpose of creating affordable housing for very low-income family and disabled households.
Eligible Applicants are non-profit or for-profit owners of existing rental housing who have a proven record of successfully managing affordable housing projects.
Eligible Use: Existing rental housing located in areas with poverty rates under 10.0%. See the chart in the complete RFP.
Please note that no more than twenty-five (25%) percent of the units in a development may have project-based assistance from either a federal or state funding source. Exceptions to this cap are:
- Project-based units in a single family property (one to four unit property); or
- Units in a multifamily building (five or more) set-aside for the elderly or disabled.
- This limit may be waived by DCA with substantial justification.
The term of assistance shall be for a period of 10 years, dependent upon continued funding availability and compliance with the terms of the Housing Assistance Payment Contract.
Eligible households may earn up to thirty (30) percent of the Area Median Income.
The deadline to apply is June 30, 2015.
Click here for the RFP.