Point Pleasant Beach News
Landlord Incentive Program
Sponsored by the New Jersey Department of Community Affairs
The New Jersey Department of Community Affairs (DCA) has launched the Landlord Incentive Program (LIP), which provides project-based incentive payments to apartment owners who, in turn, must execute a LIP agreement to keep rents affordable to low- and moderate-income households for a two-year term in communities hard-hit by Superstorm Sandy.
Existing vacant market-rate units including rental housing where the property owner has full site control are considered eligible properties. Units that are currently occupied, but will be vacant within the next 90 days are also eligible. Project-based units and units that are deed restricted are ineligible to participate in this program.
Seventy-five percent (75%) of the funds will be allocated to units located in one of the following nine counties that were significantly impacted by Superstorm Sandy: Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean, and Union. The remaining funds can be utilized statewide.
For more information, please visit http://www.state.nj.us/dca/divisions/dhcr/rfp/pdf/lipguidelines.pdf. Additional details are also available via DCA's SAGE Portal at https://njdcasage.state.nj.us/RFPMailingRequest_List.asp.
Published June19, 2013 | Announcements | 1619