Ten Months Later New Jersey Continues to Rebuild

The Christie Administration Is Working Across The Aisle To Help New Jersey Rebuild & Recover

Superstorm Sandy was unprecedented in size and force, and damaged or completely destroyed thousands upon thousands of New Jersey homes. As the state continues to rebuild, the Christie Administration has launched a number of programs designed to utilize the $1.8 billion in Community Development Block Grants approved by the Obama Administration to assist affected homeowners and renters, including:

– $600 million for the Rehabilitation, Reconstruction, Elevation and Mitigation (RREM) program which provides grants to eligible Homeowners of up to $150,000. The RREM program is intended to “fill the gap” between the cost of repairs and other funds the owner has received to repair the structure. To date, 3,545 applicants have been approved.

– $180 million to support a Homeowner Resettlement Program designed to encourage Homeowners to remain in the nine (9) most Sandy-impacted counties. The funds may be used for any non-construction purpose that assists the Homeowner to remain in, or return to, the County in which they lived prior to Superstorm Sandy. To date, 11,863 applicants have been approved.

– $25 million for the Sandy Homebuyer Assistance Program, administered through New Jersey’s Housing and Mortgage Finance Agency, helps eligible applicants buy a home in Sandy-affected communities by reducing the purchase price of a home. Applicants can receive an incentive of up to $50,000 in the form of an interest-free, forgivable mortgage.

– More than $44 million in Disaster Recovery Essential Services Grants that are helping the hardest-hit communities across the state provide critical services as they rebuild from Superstorm Sandy. The grants are used to fund police, public works, education and emergency first aid squads.

– $379 million to help create affordable rental units and assist with repairs:

— Landlord Rental Repair Program: This $70 million program provides up to $50,000 per unit for eligible rental property owners to repair, reconstruct or elevate damaged properties;

— Landlord Incentive Program: This $40 million program expands the State’s inventory of affordable housing for low- and moderate-income households;

— Neighborhood Enhancement Program: This $30 million program provides funding to stabilize neighborhoods impacted by Superstorm Sandy, targeting neighborhoods through the creation of affordable housing;

— Predevelopment Loan Fund For Affordable Rental Housing: This $10 million program provides financing to help nonprofit developers revitalize Sandy-affected areas by covering the predevelopment costs associated with the redevelopment of properties that are currently considered unsafe, underutilized, or in foreclosure;

— Sandy Special Needs Housing Fund: This $25 million program funds permanent supportive rental housing or community residences in which some or all of the units are affordable to low- and moderate income special needs residences;

— Fund For Restoration Of Multi-Family Rental Housing: This $179,520,000 program provides funding to repair and construct affordable multi-family rental housing units in areas affected by Superstorm Sandy.

– Along with Hazard Mitigation Grant Program (HMGP) funds, the Community Block Development Grants are assisting homeowners through the funding of a $300 million buyout program to purchase homes in flood-prone areas from willing sellers, taking people out of harm’s way and creating land to mitigate future flooding. To date, more than $41 million has been awarded to homeowners in South River and Sayreville through the program;

– In addition to the CDBG funds referenced above, the State is using HMGP funds to fund a $100 million Elevation Program for eligible homeowners to elevate their primary single-family residences in the nine hardest-hit counties to, providing up to $30,000 of reimbursement.

Keeping Our Water and Beaches Clean:

In the aftermath of Superstorm Sandy, the Department of Environmental Protection coordinated one of the largest and most complex disaster cleanups ever undertaken, removing some eight million cubic yards of debris from roadways and more than 80,000 cubic yards of debris from New Jersey’s waterways.

Clearing Transportation Networks:

In July, The Christie Administration officially broke ground on the $265 million construction project to rebuild Route 35, the gateway to many of the barrier islands that make up the Jersey Shore:

– Heavily damaged by Superstorm Sandy, Route 35 runs through nine municipalities along the Barnegat Peninsula;

– Sandy carried away entire sections of the highway and completely destroyed the highway drainage system;

– The Federal Highway Administration has committed to pay 80 percent of the cost of the project from its Sandy Emergency Relief funds; and

– During the immediate clean-up, 80 sink holes were repaired, 1,100 traffic signals fixed and 1,250 traffic signs erected across New Jersey.

Promoting Tourism and Small Businesses:

New Jersey’s Economic Development Authority has launched two Stronger NJ Business programs to support the recovery of New Jersey’s businesses and communities, especially tourism regions impacted by Sandy:

– The $260 million Stronger NJ Business Grant Program is available to help small businesses and non-pro┬┤┬╝├╝ts that have been damaged by Superstorm Sandy. Under this program, grants and forgivable loans of up to $50,000 per impacted location are available. To date small businesses have received $2.62 million in funding.

– The $100 million Stronger NJ Business Loan Program is available to help small businesses and non-pro┬┤┬╝├╝ts that were impacted by Superstorm Sandy, as well as businesses looking to expand within storm-impacted communities. Low-cost loans up to $5 million per eligible location are available for renovation, new construction, or equipment. Loans up to $500,000 are available to support working capital needs for eligible businesses. To date, 197 applications have been received.