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*Important- NJHMFA Financing:
Applicants listing NJHMFA financing as a source of funds shall include an executed preliminary approval letter at the time of submission of the 9% LIHTC application. The executed preliminary approval letter must reflect the same project development budget included as part of the 9 % LITHC application and the underwriting parameters must conform with current NJHMFA Multifamily Underwriting Guidelines and Financing Policy.
Applicants seeking a preliminary approval letter to include as part of their 9% LIHTC application must submit a complete mortgage financing application package to NJHMFAMultifamily@njhmfa.gov no later than COB on June 21, 2024. Applications submitted to NJHMFA after June 21st will not be processed. The mortgage financing application submission must contain the required documentation as listed in the UNIAP to be deemed a complete financing application package. Please refer to the UNIAP page 13, for the required documentation to be submitted. An incomplete mortgage financing application submission will neither be processed nor advanced for review.
MF Application Fee:
The multi-family financing application fee is $5,000. The application fee for the Special Needs Housing Trust Fund Program is $1,000 for those projects applying to the Supportive Housing Cycle and for projects setting aside additional special needs units above the five units needed for points. Payment of the application fee is required for an application to be processed. For wire payments, please contact Karen Howland at KHowland@njhmfa.gov or Ivelisse Melendez-Aguirre at imelendezaguirre@njhmfa.gov.
MFPHPP and Section 811:
Sponsors that wish to apply for $150,000 per unit capital subsidy through the Money Follows the Person Housing Partnership Program (MFPHPP) should submit applications to Terre Lewis, at the Department of Human Services, Terre.Lewis@dhs.nj.gov.
Sponsors that wish to apply for Section 811 Project Rental Assistance (Sect. 811 PRA) must submit applications to Lavern Henry, LHenry@njhmfa.gov by June 21, 2024.
Multifamily Questions?
Please send questions regarding the electronic Leap File application submission process to NJHMFAMultifamily@njhmfa.gov.
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