Funding for Housing and Mortgage Finance Agency Must Prioritize Eligible Properties Damaged by Hurricane Ida
TRENTON – Governor Phil Murphy today signed legislation (S-1802) to appropriate $25 million to the New Jersey Housing and Mortgage Finance Agency (HMFA) for its Capital Improvement and Assistance Program to support the rehabilitation of eligible affordable housing properties that have been impacted by natural disasters or other emergent circumstances. Priority will be given to properties that suffered damage as a result of Hurricane Ida.
“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,” said Governor Phil Murphy. “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.”
This funding will go a long way toward helping families, whose lives were upended by Hurricane Ida, return to their homes and communities,” said Lt. Governor Sheila Oliver, who chairs the New Jersey Housing and Mortgage Finance Agency Board. “We thank legislators and Governor Murphy for the appropriation, which will be put to use as quickly as possible to repair the impacted properties.”
“Residents across New Jersey were affected by Hurricane Ida, a storm that resulted in unprecedented damage even in areas not within traditional flood plains. Among those impacted were hundreds of low-income families and seniors who lost everything to the floodwaters and have since been displaced from their homes and their communities,” said Melanie R. Walter, Executive Director of the New Jersey Housing and Mortgage Finance Agency. “Today, Governor Murphy signs legislation, championed by Senate President Scutari, Assembly Speaker Coughlin, Senator Cryan, and Assemblyman Benson, that empowers us to offer critical financial support to affordable housing developments that experienced severe losses and displacement as a result of Ida. With these funds, we can help get displaced residents back home.”
Primary sponsors of the bill include Senator Joe Cryan, Senate President Nick Scutari, and Assembly members Daniel Benson, Annette Quijano and Benjie Wimberly.
“The remnants of Hurricane Ida brought unprecedented rainfall and resulting damage to many communities across New Jersey, and Union County residents were hit especially hard,” said Senator Joe Cryan. “Hundreds were left homeless and thousands suffered significant damage to their homes. Many of the storm’s victims are still without shelter. This funding is needed as temporary solutions are running out.”
“Our most affected communities have not fully recovered and many people still are not back in their homes,” said Senate President Nick Scutari. “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.”
“We have seen a great deal of damage from natural disasters here in our State as a result of Hurricane Ida and other storms,” said Assembly members Daniel Benson, Annette Quijano and Benjie Wimberly in a joint statement. “Residents deserve our help in times of unexpected tragedy. This funding administered through the Capital Improvement Assistance Program under HMFA will greatly support many families in repairing their homes.”
The supplemental appropriation to HMFA for fiscal year 2022 will be made available as loans to finance the rehabilitation and physical improvement of eligible affordable housing properties. The appropriation will enable HMFA to provide funding for properties damaged by the hurricane that are in need of additional resources in a timely manner.