NEWARK, NJ — Newark has issued a request for proposals (RFP) seeking developers to provide affordable housing subsidized by Federal HOME funds, according to city officials.
The Economic and Housing Department is accepting proposals from for-profit and/or nonprofit developers with the ability to develop housing that is affordable for low and very low-income residents.
The HOME program defines very low income as 50% of area median income and low income as 51 to 80% of area median income.
“HOME funds are one of the important tools we use to carry out Mayor Ras Baraka’s equitable growth priority of ensuring that new development and affordable housing benefits residents of all of Newark’s neighborhoods,” said Allison Ladd, deputy mayor. “These funds help us to expand jobs for low income residents, assist in the growth of Newark small minority and women-owned businesses, provide transitional housing for the homeless, housing for large families and expand the use of sustainable/green building practices.”
The proposed projects must do one or more of the following:
- Increase affordable rental housing opportunities for low-income households.
- Increase availability of sustainable housing options.
- Create transitional and permanent supportive housing for individuals and families with special needs.
- Comply with other projects and activities allowed under the HOME Program regulations, consistent with the city’s Consolidated Plan.
The total amount of subsidy funds available under this RFP is approximately more than $3 million, of which $1.3 million remains from prior year HOME allocations and the balance comes from the 2020-2021 federal HOME allocation which is yet to be announced.
Copies of the RFP and necessary forms can be obtained from the EHD Director’s Office, Room 218, City Hall, or from the EHD Division of Housing and Finance, Room 402, City Hall. Proposals must be postmarked or hand-delivered no later than 4 p.m., on Thursday, Feb. 20, 2020, to the Department of Economic and Housing Development, City Hall, Room 218.
For more information on the City of Newark, visit www.newarknj.gov.