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7/23 – State to Launch Rental Repair Program to Restore Sandy-Damaged Units

Written by The Two River Times. Posted in Breaking News

7/23 – State to Launch Rental Repair Program to Restore Sandy-Damaged Units

Published on July 23, 2013 with No Comments

By John Burton

TRENTON — The state Department of Community Affairs has announced it is launching a landlord rental repair program, to help restore rental units damaged in Super Storm Sandy.

The $70 million program will could give eligible rental property owners as much as $50,000 per unit to repair, reconstruct and elevate damaged units. One stipulation for landlords is that they must agree to rent their rehabilitated units to low- and moderate-income families as a way of increasing the supply of affordable rental units in storm-impacted communities.

Department of Community Affairs Commissioner Richard E. Constable III will be announcing the details of the program, when he appears Wednesday morning at the Monmouth County Housing Recovery Center, 3 Paragon Way, Suite 150, Freehold.

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