Housing Trust Fund Comments Due July 31st
The state’s draft National Housing Trust Fund allocation is now on their website.
Comments should be sent to:
New Jersey Department of Community Affairs
Division of Housing and Community Resources
National Housing Trust Fund Program
PO Box 806, Trenton
New Jersey 08625-0806
Or by email to until July 31, 2016. The public hearing date has not been announced yet.
Here is a summary of their the NJ Housing Trust Fund plan:
- DCA will use its $3.7 million allocation for the following: $3.36 million for program funds and $373,356 for administrative funds to create 12 “units.”
They are prioritizing the following:
- Re-entry housing
- Applicants with experience in serving special needs populations and non-profits.
- 100% rental
- Contain no more than four NHTF units.
- Maximum award per project: $700,000.
- Subsidy per-unit ranges from $250,000 – $400,000 depending on size of the apartment.
- Geographic diversity in areas of high opportunity, with access to public transportation employment opportunities and other community amenities.
- Experience, capacity, and ability to obligate funds and complete activities in a timely fashion.
- Successful applications will demonstrate experience in serving special needs populations and will include a supportive services plan.
- Leverage – Projects may apply for up to 100% of development costs from the NHTF. Additional points will be awarded to projects that demonstrate leverage from non-NHTF sources.
Points the Network and Monarch Housing would like to see addressed:
- We recommend there should be preference given to developments with the deepest possible affordability for rents and the longest possible periods of affordability.
- In suburban communities, preference should be given to developments that are part of an approved municipal plan. In urban areas, preference should be given to developments that are part of a comprehensive neighborhood plan.
- DCA should convene an application review panel composed of state officials and at least two private citizens representing the housing and homeless advocacy community who are not affiliated in any way with any applicant.
Fund Limitations: No one developer should get more than ¼ of the funds. No one city should get more than ¼ of the funds.
Priority: We believe some set aside for the re-entry population would be OK, but not 100% preference.
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