New Jersey

A new note from Peter Lawrence with Novogradac and Co. analyses state use of the private activity bonds (PABs). In 2017, eleven states reported no multifamily PAB issuance, up from ten in 2016 and down from the high of 30 in 2011.

Proposed amendments, repeals and new rules are being proposed by the Agency to the Low Income Housing Tax Credit Qualified Allocation Plan (QAP), which is codified at N.J.A.C. 5:80-33.1 et seq. The proposal notice will be published in the November 19, 2018 New Jersey Register and is also published on the Agency’s website. A public […]

Attention Developers: This notice shall serve to clarify and refine the Agency’s policy with respect to the financing of inclusionary developments seeking Low Income Housing Tax Credits (LIHTC). Section 19 of P.L. 2008, c. 46, N.J.S.A. 52:27D-321.1 (A500 ACS), stipulates, in part, that the affordable portion of any mixed-income or mixed-use development that is part of a fair share […]

New Jersey Housing and Mortgage Finance Agency announced the Conduit and Multifamily Underwriting and Financing Guidelines and Policy were updated effective September 20, 2018. Please use the links below to view the updated Guidelines. Conduit Underwriting and Financing Guidelines Multifamily Underwriting and Financing Guidelines

The 2018 Utility Allowances have been published with an October 1, 2018 effective date. Per IRS regulations, the new utility allowances must be implemented no later than January 1, 2019. The utility allowance amounts for water and sewer have been added for your convenience. However, please be advised they are the last published amounts listed on […]

The New Jersey Housing and Mortgage Finance Agency is pleased to sponsor a 3-day Tax Credit Compliance Certification Course and Exam to be held October 29-31, 2018 at the Hilton Garden Inn in Hamilton, NJ.

2018 applicants must select either the 20% at 50% or 40% at 60% minimum set aside and adhere to current underwriting parameters (units underwritten above 60% of Area Median Income will be treated as market rate or unrestricted).

This annual event enables tax credit developers to maintain their certifications.

The workshop will take place at the Hilton Garden Inn in Hamilton Township.

Charles A. Richman, who has more than 40 years’ experience in state government, was appointed as Executive Director of the New Jersey Housing and Mortgage Finance Agency (NJHMFA) by the board at its January 25 meeting. “Chuck Richman brings a dedication and devotion to public service and the goal of providing affordable housing opportunities to his […]

The New Jersey Department of Community Affairs (DCA) has released its Request for Proposals (RFP) for nonprofit and for-profit developers to take advantage of $5,599,220 available to create affordable housing for extremely low-income individuals and families with special needs. The National Housing Trust Fund has awarded New Jersey the funds to provide zero percent loans […]

During his 7-year tenure, NJHMFA oversaw the financing and creation of over 38,000 new or improved housing opportunities.