Mandatory National Housing Trust Fund RFP Webinar occurs on 7/18/2017 10 am-12 pm or 7/25/2017 from 1 pm to 3 pm
The Department of Community Affairs (DCA) will issue a Request for Proposals (RFP) on July 5, 2017 for $3.7 million from the National Housing Trust Fund, which provides funding to create new, decent, safe and affordable housing for extremely low-income individuals and families with special needs.
The funding will provide a maximum of $400,000 per unit and a maximum of $700,000 per project.
What is this program?
The National Housing Trust Fund (NHTF) provides funding to create new, decent, safe and affordable housing for extremely low-income individuals and families with special needs.
The State of New Jersey was awarded $3,738,267 in NHTF funds.
The program provides zero percent loans to eligible entities that will create affordable rental housing units through either rehabilitation or redevelopment.
Occupancy of the units developed under this program is restricted to households at or below 30% of Area Median Income as defined by HUD for a period of at least 30 years.
Who is eligible?
Non-Profit and For Profit Affordable Housing Developers that demonstrate strong financial, organizational, and development capacity.
What will the program fund?
The program will provide up to $400,000 in subsidy per unit (based on need and bedroom size). The maximum per project award is $700,000. Funding can be used for the following activities:
Acquisition and/or demolition must be directly related to new construction or reconstruction. All units must be vacant at the time of application.
After registering, you will receive a confirmation email containing information about joining the webinar.
DCA staff will also be available either by email, firstname.lastname@example.org or james .email@example.com or by phone at 609- 292-9539 or 609-633-6046 for interested parties whom attend the webinars and have questions regarding the RFP, access to SAGE or other general inquiries.