Bill > A4745

Introduced Session

This bill would establish the Safe Haven Homeless Housing Program in the New Jersey Housing and Mortgage Finance Agency ("HMFA"). The bill directs HMFA to award program funding, in the form of low-interest loans, to qualified developers for the purpose of renovating or reconstructing underused developments into transitional housing or permanent supportive housing, for individuals and families who have recently been homeless or lack stable housing. As used in the bill, an underused development may consist of a vacant or underused building or structure, including but not limited to a shopping mall, shopping center, warehouse, office park, hotel, or apartment building. The bill would establish a Safe Haven Homeless Housing Fund, to be administered by HMFA, for the purpose of providing the moneys necessary to administer the program. The bill would appropriate $30 million to HMFA from the funds provided to the State by the federal government, through the "American Rescue Plan Act of 2021," Pub.L.117-2, to carry out the purposes of the bill. Any interest or earnings that are attributable to moneys in the fund would also be deposited into the fund. The bill directs HMFA to adopt rules and regulations to carry out the requirements of the bill. The bill would take effect immediately.

AI Summary

Committee Categories

Reginald Atkins (D)*,  Angela Mcknight (D)*,  Benjie Wimberly (D)*,  Bill Spearman (D), 

Introduced, Referred to Assembly Housing Committee (on 10/11/2022)

Official Document