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Matawan Receives Affordable Housing Grant

The program is funded through Community Development Block Grant (CDBG) Disaster Recovery monies provided by the U.S. Department of Housing and Urban Development.

Matawan Receives Affordable Housing Grant
Written by Christopher Sheldon

Matawan is one of several towns to receive a Hurricane Sandy recovery grant to help finance affordable housing units.

"The grants are providing rental property owners with fair market rents so that they can make their housing units affordable to low- and moderate-income families," a release from the governor's office states. "Awarded through the $40 million Landlord Incentive Program, the grants are assisting 30 property owners in eight counties."

The Landlord Incentive Program provides rental property owners roughly the difference between 30 percent of the tenant’s monthly income and federal fair market rents each month and ensures that participating landlords receive a stable monetary incentive over the program period, which will be at least two years.

The program is funded through Community Development Block Grant (CDBG) Disaster Recovery monies provided by the U.S. Department of Housing and Urban Development.

The Department of Community Affairs is currently accepting applications for the Landlord Incentive Program on a rolling basis. Rental property owners with existing market rate units that are currently vacant or will become vacant within the next 90 days can apply, according to the release.

Landlords who wish to participate in the program must attend a mandatory Technical Training Workshop. The next workshops will be on Thursday, Oct. 24, at the Ocean County Fire Safety Training Academy in Waretown, Ocean County, and on Friday, Nov. 1 in Egg Harbor Township, Atlantic County.

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