New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 43 - NEIGHBORHOOD PRESERVATION BALANCED HOUSING PROGRAM
Subchapter 3 - FUNDING CRITERIA
Section 5:43-3.3 - Special Needs Housing Trust Fund projects

Universal Citation: NJ Admin Code 5:43-3.3

Current through Register Vol. 56, No. 18, September 16, 2024

(a) The Balanced Housing Program may provide funding for eligible applicants to assist projects receiving funding from the Special Needs Housing Trust Fund established by P.L. 2005 c. 163. Funding provided pursuant to this section shall be made in accordance with the Special Needs Housing Trust Fund Act ( P.L. 2005 c. 163) and any rules established pursuant to that Act.

(b) The maximum assistance to such projects shall not exceed 20 percent of the total project cost or the capitalized cost of a rental subsidy for up to 10 years.

(c) Where feasible, as determined by the New Jersey Housing and Mortgage Finance Agency in accordance with the Special Needs Housing Trust Fund Act ( P.L. 2005 c. 163) and any rules established pursuant to that Act, any project funded pursuant to this section shall comply with the eligibility requirements set forth in 5:43-2.4.

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