Special Needs Housing Partnership Loan Program Gets Additional Funding from the NJ Housing Mortgage Finance Agency
NJHMFA’s Special Needs Housing Partnership Loan Program (SNHPLP), which creates safe, affordable supportive housing that enables people with special needs to integrate into the community, is getting a $10 million infusion.
The Agency’s Board of Directors approved an additional $5 million at its December board meeting. Additionally, the New Jersey Department of Community Affairs (DCA) is providing $5 million in funding.
SNHPLP was launched in 2011 as a partnership among DCA, NJHMFA and the New Jersey Department of Human Services.
Other housing arrangements of up to six (6) bedrooms may qualify, on a case-by-case basis, as may be accepted by NJHMFA staff, in consultation with the New Jersey Department of Human Services, Division of Developmental Disabilities (DDD), provided the Sponsor is able to meet the 6-month threshold requirement.
New construction, while not encouraged, will be considered on a case-by-case basis provided the Sponsor is also able to meet the 6-month threshold requirement.
Loan proceeds are used to acquire or rehabilitate existing three- to four-bedroom, single-family ranch-style houses, first floor three- to four-bedroom condominiums as well as new construction.
Since the program began, New Jersey has committed funding to 66 homes with a total of 264 beds. The new funding, coupled with remaining program funds and matching funds from participating municipalities, will enable SNHPLP to finance another 44 projects with close to 180 beds.
SNHPLP earned recognition from the Henry J. Kaiser Family Foundation as an example of a creative, innovative state housing program designed to assist individuals with special needs and was recognized by the National Council of State Housing Agencies for an Excellence Award in 2015.