The U.S. Department of Housing and Urban Development allocated more than $12.2 million to New Jersey from the Housing Trust Fund, an affordable housing production program, it announced this week.
The award was part of a $382 million allocation nationwide from the program that complements existing efforts to increase the supply of affordable housing for extremely low- and very low-income households.
“Investments made to find solutions to the nation’s housing issue, particularly in New Jersey, are investments into families, individuals and communities,” U.S. Sen. Bob Menendez (D-N.J.) said in a prepared statement. “Creating more affordable housing for New Jersey families has long been a top focus of mine, and this infusion of federal funds could not come at a more vital time, when rents continue to skyrocket and many families are facing housing insecurity.”
“Access to safe and affordable housing is a fundamental human right,” U.S. Sen. Cory Booker (D-N.J.) added in a statement. “I’m proud that New Jersey has received over $12 million in federal investment to help support our state’s efforts to address housing insecurity. These funds will provide much-needed assistance to our most vulnerable communities and ensure that every New Jerseyan has a place to call home.”
Funding can be used for activities including:
- Real property acquisition;
- Site improvements and development hard costs;
- Related soft costs;
- Financing costs;
- Relocation assistance;
- Operating cost assistance for rental housing;
- Reasonable administrative and planning costs.
“The Housing Trust Fund provides funding that contributes to available federal, state and local resources to increase and preserve the supply of decent, safe and sanitary affordable housing,” Alicka Ampry-Samuel, HUD regional administrator for New York and New Jersey, said in a statement. “HUD partners working together are a proven lifeline for extremely low-income and very low-income households, including homeless families, that need an affordable place to call home.”