Attention Developers
New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs.
Therefore, HMFA is proud to announce the Affordable Housing Production Fund Set Aside (AHPFSA) Program, approved at the January 12, 2023 HMFA board meeting. HMFA will set aside up to $60,000,000 from the State’s "Coronavirus State Fiscal Recovery Fund” allocation of $305,000,000, established pursuant to the federal "American Rescue Plan Act of 2021," Pub. L. 117-2, to the Affordable Housing Production Fund Set Aside Program.
HMFA will administer the legislatively appropriated AHPFSA funds to provide subsidy financing for eligible projects in need of gap financing to support 9% LIHTC development.