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Sheila Oliver, who also serves as Department of Community Affairs Commissioner and chair of the NJHMFA board.
Additionally, Silver Street raised USD 8.5m in low-income housing tax credit equity by selling the tax credits (procured as part of the aforementioned NJHMFA bond allocation) to Boston Financial Investment Management.
NJHMFA, which administers the program, currently monitors nearly 600 tax credit developments of more than 50,000 apartments statewide.
in a mixed-use neighborhood and arts district undergoing significant revitalization, NJHMFA said.
NJHMFA is urging hospitals to consider developing mixed-use/mixed-income projects, and said that it anticipates awarding three or four projects throughout the state.
NJHMFA said the grant will be distributed to Affordable Housing Alliance, Greater Bergen Community Action, Urban League for Bergen County, Faith Fellowship Community Development Corp., Puerto Rican Action Board and Tri-City Peoples Corp.
Construction financing for the homes includes CPC's loan of $607,163, financing of $607,163 from NJHMFA and a subsidy of $400,000 through New Jersey's Homeownership Incentive Fund (HIF) CHOICE program.
The Community Preservation Corporation partnered with The New Jersey Housing and Mortgage Finance Agency (NJHMFA) to close on a construction loan of $1,214,326 to finance the construction of five two-family homes in the North Ward of Newark.
* CPC partnered with The New Jersey Housing and Mortgage Finance Agency (NJHMFA) to close on a $1,214,326 construction loan to finance the new construction of five two-family homes scattered along a one block section in the North Ward.
Funding for the entire project will be provided by the NJHMFA Special Needs Trust Fund, Home Express, HUD McKinney-Vento Supportive Housing Program, Eva's own equity, and 9 percent tax credits.
Healy, New Jersey Housing Mortgage Finance Agency (NJHMFA) Executive Director Marge Della Vecchia and other state and local officials joined two New Jersey developers recently to celebrate the completion of new affordable housing in this Hudson County city.
Union Plaza Apartments and Rahway Plaza Apartments, managed by Denholtz Associates, were recently recognized by The New Jersey Housing and Mortgage Finance Agency (NJHMFA) with its Excellence in Housing Management Award for 2005.
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