Murphy designates $25 million in funding for natural disaster damage to affordable housing

Gov. Phil Murphy (D-N.J.) signed legislation on Monday to allocate $25 million in funding to support the rehabilitation of affordable housing properties that were affected by natural disasters and other circumstances, according to a press release. 

The funding will go directly to the New Jersey Housing and Mortgage Finance Agency (HMFA) for its Capital Improvement and Assistance Program, and it will be prioritized for the properties that were damaged by Hurricane Ida.

The allocation of the funds will be provided as loans to HFMA for the 2022 fiscal year, according to the release. This will allow the agency to provide funding for the damaged properties that are in need of additional resources to be improved promptly.

“The effects of Hurricane Ida are still being felt by many New Jersey residents today, including those displaced from their homes because of the storm,” Murphy said. “The families who lost so much as a result of this devastating storm need our help to rebuild. This legislation will ensure that funding is made available to repair and rehabilitate hundreds of units that had to be evacuated due to the storm.”

Sen. Joseph Cryan (D-20), Senate President Nicholas Scutari (D-22) and Reps. Daniel Benson (D-14), Annette Quijano (D-20) and Benjie Wimberly (D-35) will all act as primary sponsors of the bill, according to the release.

“Our most affected communities have not fully recovered and many people still are not back in their homes,” Scutari said. “Living without a residence of their own for this long is a terrible hardship. This will provide resources for housing, home repair and programs that cover property loss for those in need.”