N.J. seeks to shift federal Sandy funds. The Department of Community affairs seeks to transfer160 million in federal money from funds designated for grants and forgivable loans to small businesses.
View the amendment here.
Highlights:
The program would add $110 million to the Reconstruction, Rehabilitation, Elevation, and Mitigation (RREM) Program to allow between 800 to 1,100 Sandy-impacted families currently on the waitlist to receive a RREM grant. This grant provides up to $150,000 to help homeowners impacted by Sandy repair or rebuild their home. The program, which closed its application period on August 1, 2013, has previously reserved funding for approximately 4,300 homeowners, but more than 8,700 households remain on the program’s waitlist.
The reallocation would also add $35 million to the Homeowner Resettlement Program to provide each of the more than 2,100 Sandy-impacted families on the program’s waitlist with a $10,000 grant to incentivize them to stay in their home community rather than relocating. With this funding reallocation, every eligible applicant who applied to the program before the August 1 deadline will now receive a Resettlement award.
The change would also set aside $15 million to support the demolition of unsafe Sandy-damaged structures in order to alleviate blight and address threats to public health and welfare.
The Action Plan substantial amendment can be viewed in English and Spanish at http://www.nj.gov/dca/divisions/sandyrecovery/action/ on the DCA website.
Written comments on the amendment will be accepted by email to sandy.recovery@dca.state.nj.us until 5:00 p.m. on Wednesday, November 20, 2013.
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