Photo Credit: lowincomehousing.us Over the next nine years, Hudson County will be able to utilize nearly $10 million in federal funds for the development of affordable housing countywide. The Board of Commissioners has authorized the acceptance of the HOME American Rescue Plan agreement from the United States Department of Housing and Urban Development totaling $9,754,242.
The agreement will allow Hudson County to begin the planning process of utilizing these funds for the development of affordable housing.
The HOME ARP funds are unique in the fact that it is designed to perform four (4) activities that must primarily benefit qualifying individuals who are homeless, at risk of homelessness or in other vulnerable populations. These activities include: (1) development and support of affordable housing (2) tenant-based rental assistance (3) provision of supportive services (4) acquisition and development of non-congregate shelter units.
The grant will be for the term of September 22, 2021 through September 30, 2030.