Bill
Bill > S4190
summary
Introduced
03/03/2025
03/03/2025
In Committee
03/03/2025
03/03/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill establishes the Safe Haven Homeless Housing Program in the New Jersey Housing and Mortgage Finance Agency (HMFA). The bill directs the 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 appropriates $30 million to the 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.
AI Summary
This bill establishes the Safe Haven Homeless Housing Program through the New Jersey Housing and Mortgage Finance Agency (HMFA), designed to address housing instability by providing low-interest loans to developers who will convert underused buildings like shopping malls, warehouses, and hotels into transitional or permanent supportive housing. The program targets very low-income households (those earning 30% or less of the area median income) who are currently homeless or lacking stable housing, with transitional housing defined as temporary accommodations for up to 24 months and permanent supportive housing offering long-term living arrangements with access to supportive services. A dedicated Safe Haven Homeless Housing Fund will be created, funded by $30 million from the federal American Rescue Plan Act of 2021, to finance these low-interest loans. The HMFA will manage the fund, be reimbursed for administrative costs, and is required to develop regulations for implementing the program. Any interest earned on the fund will be reinvested back into the fund, ensuring ongoing support for addressing homelessness through innovative housing solutions.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 03/03/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S4190 |
| BillText | https://pub.njleg.gov/Bills/2024/S4500/4190_I1.HTM |
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