New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 43 - NEIGHBORHOOD PRESERVATION BALANCED HOUSING PROGRAM
Subchapter 3 - FUNDING CRITERIA
Section 5:43-3.12 - Neighborhood stabilization/revitalization projects
Universal Citation: NJ Admin Code 5:43-3.12
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The Balanced Housing Program may provide assistance to distressed urban municipalities applying on behalf of a sponsor who will promote neighborhood stabilization and revitalization through the acquisition and reconstruction and resale of existing units within a target neighborhood.
(b) The amount of Balanced Housing assistance and the requirements of such assistance shall be in accordance with 5:43-3.5 for two-family structures and/or 5:43-3.6 for single family homeowner units.
(c) The maximum Balanced Housing subsidy for a neighborhood stabilization/revitalization project shall be $ 750,000.
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