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Community development items: mortgage discharges, HOME reprogramming and appraisal contract presented
Summary
Staff presented several community-development items including requests to discharge city mortgages, reprogram HOME funding and award an appraisal contract. DCD recommended awarding $50,000 to Northeast New Jersey Legal Services for supportive services and $50,000 to Associated Appraisal Group for appraisal services.
The Division of Community Development presented multiple housing- and community-development items to the council at the caucus meeting.
Staff described a request to discharge a city mortgage on 394-396 Holiday Street related to a HOME Investment Partnerships Program loan. The owner intends to sell the property and the total amount due to discharge the mortgage was listed as $62,916.31; staff said the city will execute the discharge upon receipt of funds.
Other items included a reprogramming of HOME funds for program year 2024 and a recommendation to award approximately $50,000 to Northeast New Jersey Legal Services for supportive services under the Housing Opportunities for Persons with AIDS program. Staff also recommended awarding a competitively procured appraisal contract to Associated Appraisal Group for $50,000 to support retroactive appraisals on “95/5” properties (properties subject to long-term affordability restrictions) and future acquisition appraisals.
Council members asked procedural questions about state vs. city mortgage riders and about how the appraisal services would be used in potential litigation or acquisitions. Staff said the appraisal work would be used to provide accurate valuations, support potential litigation and inform acquisition decisions.
Next steps: the mortgage discharge and contract awards will be placed on the regular meeting agenda for council action. No final votes were taken at caucus.
Why it matters: these items affect housing preservation, property sales and the city’s ability to document valuations for compliance and potential legal proceedings.
