The City of Elizabeth, NJ was awarded a $910,974.88 formula grant on August 29, 2024 under the U.S. Department of Housing and Urban Development's (HUD) Home Investment Partnerships Program (CFDA 14.239). The purpose of this program is to expand the supply of affordable housing, particularly rental housing, for low- and very low-income Americans.
Grant funds will be used by the City of Elizabeth to finance a range of affordable housing activities, including rehabilitation of owner-occupied housing, assistance to homebuyers, acquisition and rehabilitation or construction of rental housing, and tenant-based rental assistance. At least 15% of the grant funds must be reserved for projects owned, developed or sponsored by Community Housing Development Organizations. The city may also use up to 10% of the funds for program administration. These grant activities are expected to benefit households with incomes at or below 80% of the area median income, with at least 90% of occupants of HOME-assisted rental units and households receiving tenant-based rental assistance having incomes at or below 60% of the area median income.