PRESS RELEASE March-9-2020

Sweeney Praises $50 Million In Support of Special Needs Housing

Trenton – Senate President Steve Sweeney today praised the action by the New Jersey Housing and Mortgage Finance Agency to provide $50 million for affordable housing for residents with special needs.

“Supportive housing for those with special needs is a critical priority in New Jersey,” said Senator Sweeney, the Legislature’s top advocate for those with developmental disabilities and other special needs. “These are some of our most vulnerable citizens who have the ability to live full and meaningful lives if they are provided with basic services, including affordable housing.”

The HMFA today announced a $50 million initiative that will provide funding for 400 apartments for residents with special needs. The financing, under the Special Needs Housing Subsidy Loan Program, is the first major new funding source in seven years to provide supportive and affordable housing opportunities statewide. Under the new program, the HMFA will provide financing to developers of supportive housing and community residences. The agency will finance the new program through bonding and its own contributions.

“This is not only the compassionate thing to do, it is a way of giving those with disabilities the ability to live productive lives in their home communities,” said Senator Sweeney. “They deserve the dignity of a meaningful lifestyle.”