Bayonne housing authority outlines $15M affordable housing rehabilitation grant process

In a recent Bayonne Special City Council meeting, officials discussed a new draft manual aimed at enhancing affordable housing initiatives in the city. The proposed plan includes a forgivable grant program designed to assist residents with repairs on smaller residential buildings, specifically those with one to six units. This initiative is overseen by the Bayonne Housing Authority, which will ensure that applicants meet necessary qualifications, including income testing.

The grant program is structured to provide financial support for repairs, with a unique stipulation: if a recipient sells their unit within ten years of receiving the grant, they must repay a portion of the funds. Specifically, 10% of the grant amount is forgiven each year, meaning that if a unit is sold in the second year, 80% of the grant must be returned to the city.

City officials emphasized the importance of this program in addressing the community's housing needs. The current spending plan allocates approximately $15 million for affordable housing, with a portion designated for rehabilitation work overseen by the housing authority. The remaining funds will be available for Bayonne residents to apply for various housing-related needs, alongside a small allocation for administrative expenses.

As the city moves forward with this initiative, officials are committed to keeping the community informed and engaged. A draft of the manual will be shared with council members for further review, and discussions will continue to refine the program to best serve Bayonne residents. This initiative represents a significant step towards improving housing conditions and accessibility in the city, reflecting the council's ongoing commitment to addressing local housing challenges.