As of November 15th, 2013 the Landlord Rental Repair Program is no longer accepting applications.
The State of New Jersey has allocated $70 million in Community Development Block Grant Disaster Recovery (CDBG-DR) funds for the Landlord Rental Repair Program. The LRRP is designed to restore rental properties that were damaged by Superstorm Sandy. The LRRP provides up to $50,000 per storm-damaged unit to assist eligible Landlords of rental property to repair residential rental property damaged by Superstorm Sandy. To be eligible for the award, the Landlord must then rent the repaired unit(s) to low-to-moderate income (LMI) families at approved affordable rents.
The maximum LRRP amount is $50,000 per unit. It is intended to “fill in the gap” between the cost to repair the rental unit(s) and the funds the Landlord has available to make those repairs. The duplication of benefits analysis takes into consideration all of the funds that the Landlord received to repair the damaged unit(s) including insurance, SBA assistance, and any assistance from other sources that were for repair of the structure. To determine the award, such funds will be subtracted from the cost to repair.
In addition to increasing the supply of affordable rental housing in areas that were damaged by Superstorm Sandy, the program will also serve to help revitalize storm impacted neighborhoods.