NJ to Receive over $5 Million through NHTF for Affordable Housing in 2018
In 2018, over $5 million dollars will be available from the National Housing Trust Fund NHTF in NJ.
This funding can be used for:
- project acquisition,
- renovation or
- reconstruction of affordable housing for extremely low-income households, including special needs families.
The New Jersey Department of Community Affairs (DCA) would like input from you in order to make the Request for Proposals (RFP) process for NHTF funding responsive to the needs of developers and impactful to residents.
Specifically, please respond to the following question and be specific as possible in your answer:
- What components of the NHTF application prevented your organization from applying?
Please submit your response to James Lordi.
- NHTF provides funding to increase and preserve the supply of decent, safe and affordable housing for extremely low-income households, including special needs families.
- Eligible applicants for NHTF funding are nonprofit and for-profit affordable housing developers that demonstrate strong financial, organizational, and development capacity.
Eligible projects for NHTF funding are:
- Acquisition and Renovation (Moderate Rehabilitation)
- Acquisition and Reconstruction (Substantial Rehabilitation)
- Acquisition and New Construction
- A current rental property that is vacant at time of application.
- A single-family owner-occupied property that is vacant upon purchase.
In order to achieve the State’s goals in preventing and reducing homelessness and in providing affordable housing for people who are most vulnerable, including those with disabilities or other special needs, DCA will award only those projects that will provide housing to extremely low-income individuals and families with special needs.
The definition of special needs includes households with:
- Heads of households with mental illness
- Heads of households with physical or developmental disabilities
- Heads of households who are victims of domestic violence
- Youth aging out of foster care, runaway and homeless youth
- Individuals and families who are homeless
- Disabled and homeless veterans
- Heads of households with HIV/AIDS
- Head of households who are re-entering the community after incarceration in a correctional facility
In September, the National Low Income Housing Coalition (NLIHC) reported that six projects in New Jersey have used NHTF grant awards to build or preserve a total of 20 rental homes for extremely low-income households. A project in Millstone, New Jersey is featured in the report. New Jersey had five “medium” sized awards – amounts greater than $500,000 but equal to or less than $1 million.