Title 55, Title 55: TENEMENT HOUSES AND PUBLIC HOUSING

55:14K-58. Affordable Home Ownership Opportunities Fund established 5. a. There is hereby established in the agency the Affordable Home Ownership Opportunities Program and the Affordable Home Ownership Opportunities Fund, which fund shall be continuing and nonlapsing, for the pur…

55:14K-59. Loans by agency authorized 6. a. The agency is hereby authorized to make loans under the program to qualified purchasers of dwelling units from nonprofit organizations undertaking eligible projects that meet the requirements of section 7 of this act. b. Loans made purs…

55:14K-6. Financing of construction, improvement or rehabilitation of housing projects; loans; application; priorities. 6. a. The agency, in order to encourage the development, operation, maintenance, construction, improvement and rehabilitation of safe and adequate housing in th…

55:14K-60. Eligibility for loans 7. A project of new construction or substantial rehabilitation by a nonprofit organization shall be eligible for a loan under this act if (1) the homes to be constructed or substantially rehabilitated under the project are located within an identi…

55:14K-61. Selection of eligible projects 8. In selecting eligible projects to receive loans from the fund, the agency shall accord priority to programs in which: a. Private donors or local units of government contribute land or money to make the program feasible. b. Financial or…

55:14K-62. Eligible project declared public work 9. Any eligible project that conforms to the standards and requirements of this act and the regulations promulgated pursuant thereto is hereby declared to be a public work in furtherance of the housing policy of this State, and any…

55:14K-63. Rules, regulations 10. The agency is authorized to promulgate the rules and regulations necessary to effectuate the provisions and purposes of this act in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). In developing these regu…

55:14K-64. Short title 1. This act shall be known and may be cited as the "Rental Housing Incentive Guarantee Program." L.1995,c.359,s.1.

55:14K-65. Findings, declarations relative to Rental Housing Incentive Guarantee Program 2. The Legislature hereby finds and declares: a. The present depressed condition of the housing industry in this State is both an obstacle to economic recovery and a source of distress to tho…

55:14K-66. Definitions 3. As used in this act: "Agency" means the New Jersey Housing and Mortgage Finance Agency. "Construction costs" means all expenditures made or incurred by a qualified housing developer, inclusive of reasonable pre-construction costs, prior to the obtaining …

55:14K-67. Rental Housing Incentive Guarantee Fund established 4. a. There is hereby established in the agency the Rental Housing Incentive Guarantee Fund, which shall be non-revolving, for the purpose of funding loan guarantees authorized pursuant to this act. b. There shall be …

55:14K-68. Powers, duties of agency 5. a. The agency is hereby authorized to contract with institutional lenders to guarantee on behalf of a qualified housing developer the repayment of up to 30 percent of the full principal balance of a loan outstanding at the time of any defaul…

55:14K-69. Agreements between agency and authority 6. For the purpose of carrying out the housing component of mixed use projects of the New Jersey Economic Development Authority consisting of both housing and commercial development, the agency may enter into agreements with that…

55:14K-7 Terms and conditions of loans. 7. a. Loans made by the agency to finance housing projects shall be subject to the following terms and conditions: (1) The loan shall be for a period of time not in excess of 50 years as determined by the agency; (2) The amount of the loan …

55:14K-7.1 Shower, bathtub safety rails required in certain senior rental projects. 1. Notwithstanding any law or regulation to the contrary, whenever a rental dwelling unit reserved for occupancy by an adult aged 55 or over is to be newly constructed and such construction is fin…

55:14K-7.2 Powers of agency as condition of loan, grant, investment for special needs housing projects. 2. As a condition of any loan, grant or other investment by the agency pursuant to P.L.2005, c.163 (C.34:1B-21.25a et al.), the agency shall have the power at all times during …

55:14K-7.3 Tenants forum; State-subsidized rental housing, complaints. 1. a. The agency shall require every manager of rental housing which has been financed, in whole or in part, by the agency or any other State entity, to arrange meetings, to be held at least once every three m…

55:14K-70. Funding provided by New Jersey Economic Development Authority 7. The New Jersey Economic Development Authority shall provide funding for any agreements entered into pursuant to section 6 of P.L.1995, c.359 (C.55:14K-69) on the basis of demand, utilizing (1) such amount…

55:14K-71. Rules, regulations 10. The agency is hereby authorized to promulgate, in accordance with the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), all rules and regulations necessary to effectuate the purposes of this act. L.1995,c.359…

55:14K-72. Short title 1. This act shall be known and may be cited as the "Senior and Disabled Cooperative Housing Finance Incentive Act." L.1998,c.128,s.1.

55:14K-73. Findings, declarations relative to cooperative housing for certain purchasers 2. The Legislature finds and declares that: a. New Jersey has the second largest population of senior residents in the country and many persons with disability and each decennial census revea…

55:14K-74. Definitions relative to cooperative housing for certain purchasers. 3. As used in this act: "Agency" means the New Jersey Housing and Mortgage Finance Agency. "Annual income" means total income, from all sources, during the last full calendar year preceding the filing …

55:14K-75. "New Jersey Senior and Disabled Cooperative Housing Finance Incentive Program" 4. a. There is hereby established in the agency the "New Jersey Senior and Disabled Cooperative Housing Finance Incentive Program" for the purpose of assisting the financing of eligible proj…

55:14K-76. Amount from bonds set aside for certain mortgage loans, projects 5. a. In furtherance of the public policy of P.L.1998, c.128 (C.55:14K-72 et seq.), the agency shall set aside, from the bonds of the agency, an amount to be determined by the agency of the total aggregat…

55:14K-77. "Senior and Disabled Cooperative Housing Incentive Fund" 6. a. There is hereby established in the agency the "Senior and Disabled Cooperative Housing Incentive Fund," which fund shall be continuing and nonlapsing, for the purpose of assisting the financing of eligible …

55:14K-78. Eligibility for loan 7. A project of new construction, substantial rehabilitation, or retrofitting by a qualified housing sponsor shall be eligible for a loan under P.L.1998, c.128 (C.55:14K-72 et seq.) if: a. the housing units to be constructed or substantially rehabi…

55:14K-79. Selection of projects; priority 8. In selecting those eligible projects which shall receive loans from the fund, the agency shall accord priority to those projects for which: a. Private donors or local units of government will contribute land, money or other in-kind re…

55:14K-8 Eligibility for admission to certain housing projects. 8. a. Admission to housing projects constructed, improved or rehabilitated under this act shall be limited to families whose gross aggregate family income at the time of admission does not exceed six times the annual…

55:14K-80 Project declared public work 9. Any eligible project that conforms to the standards and requirements of P.L.1998, c.128 (C.55:14K-72 et seq.) and the regulations promulgated pursuant thereto is hereby declared to be a public work in furtherance of the housing policy of …

55:14K-81. Rules, regulations 10. `The agency is authorized to promulgate the rules and regulations necessary to effectuate the provisions and purposes of P.L.1998, c.128 (C.55:14K-72 et seq.) in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et s…

55:14K-82 Short title. 1. This act shall be known and may be cited as the "Mortgage Stabilization and Relief Act." L.2008, c.127, s.1.

55:14K-83 Findings, declarations relative to residential mortgage assistance. 2. The Legislature finds and declares that: a. Many thousands of New Jersey homeowners are at risk of losing their homes as a result of mortgage foreclosures. b. Foreclosures involve the loss of a famil…

55:14K-84 Short title. 3. Sections 3 through 7 of P.L.2008, c.127 (C.55:14K-84 et seq.) and sections 4 and 5 of P.L.2009, c.334 (C.55:14K-86.1 and C.55:14K-86.2) shall be known and may be referred to as the "Mortgage and Neighborhood Stabilization Financing Assistance Program." L…

55:14K-85 Definitions relative to "Mortgage and Neighborhood Stabilization Financing Assistance Program." 4. As used in sections 4 through 7 of P.L.2008, c.127 (C.55:14K-84 et seq.) and sections 4 and 5 of P.L.2009, c.334 (C.55:14K-86.1 and C.55:14K-86.2): "Affordable mortgage pa…

55:14K-86 Mortgage and Neighborhood Stabilization Assistance Program, Fund. 5. There is established in the New Jersey Housing and Mortgage Finance Agency a Mortgage and Neighborhood Stabilization Financing Assistance Program and Mortgage and Neighborhood Stabilization Financing A…

55:14K-86.1 Certain funds used for acquisition, rehabilitation of certain properties. 4. The agency shall set aside all $10,800,000 of the funds appropriated to the Mortgage and Neighborhood Stabilization Financing Assistance Program Fund to be used for the purpose of financing t…

55:14K-86.2 Regulations. 5. Notwithstanding any provision of P.L.1968, c.410 (C.52:14B-1 et seq.) to the contrary, the agency may adopt immediately upon filing with the Office of Administrative Law such regulations as the agency deems necessary to implement the provisions of this…

55:14K-86.3 Additional uses for funds. 7. In addition to the uses specified for the Mortgage and Neighborhood Stabilization Financing Program Fund created by section 5 of P.L.2008, c.127 (C.55:14K-86) the agency shall use up to $2,200,000 in that fund to make grants to qualified …

55:14K-87 Rules, regulations. 6. The agency is authorized to promulgate rules and regulations, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate this program. L.2008, c.127, s.6.

55:14K-88 Short title. 8. Sections 8 through 14 of P.L.2008, c.127 (C.55:14K-88 et seq.) shall be known and may be referred to as the "New Jersey Housing Assistance and Recovery Program." L.2008, c.127, s.8.

55:14K-89 Definitions relative to "New Jersey Housing Assistance and Recovery Program." 9. As used in sections 9 through 14 of P.L.2008, c.127 (C.55:14K-89 et seq.): "Affordable rent" means monthly rent or lease payments that do not exceed 33% of the household's monthly average g…

55:14K-9. Housing sponsors; action or proceeding by agency to enforce rights; appointment of receiver; reorganizations a. The agency may institute any action or proceeding against any housing sponsor receiving a loan under the provisions hereof, or owning any housing project here…

55:14K-90 Housing Assistance and Recovery Program Support Fund. 10. a. There is established in the New Jersey Housing and Mortgage Finance Agency a Housing Assistance and Recovery Program (HARP) Support Fund, for the purpose of providing support and aid to any sponsor who establi…

55:14K-91 Execution of lease-purchase agreement. 11. A sponsor who receives monies from the fund and the homeowner shall execute a lease-purchase agreement, not to exceed a term of 36 months, that includes the following: a. The terms and conditions under which the sponsor shall c…

55:14K-92 Notification relative to noncompliance of sponsor. 12. The Department of Community Affairs shall notify the agency in the event a sponsor fails to maintain compliance with the department's certification process. L.2008, c.127, s.12.

55:14K-93 Rules, regulations. 13. The commissioner and the agency are authorized to promulgate rules and regulations, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate this program. L.2008, c.127, s.13.