Hoboken residents can receive up to $24,000 for home repairs under their new Housing Improvement Program, which is made possible via the city’s Affordable Housing Trust Fund.
By John Heinis/Hudson County View
“Affordable housing is the bedrock of a strong community, and the Housing Improvement Program underscores our dedication to ensuring that all residents, regardless of income, can maintain safe and secure homes,” Mayor Ravi Bhalla, also an 8th District congressional candidate, said in a statement.
“It is imperative that we foster an inclusive community by preserving our affordable housing stock and supporting our lifelong residents and the Housing Improvement Program is a proactive step towards providing tangible assistance.”
Qualified applicants may receive up to $24,000 in repair funding, which will be provided as a no-interest, 10-year forgivable loan.
These funds can be utilized for a variety of major systems that require replacement or substantial repair, including roofs, foundations, heating, electrical, windows, insulation, plumbing, and other essential components of a home.
To be eligible for the program, applicants must be residents of Hoboken, and their total gross annual household income must fall below the income limit for their household size. Income limits are updated annually.
The current income limits are as follows:
• Households of one: income limited to $67,431 per year
• Households of two: income limited to $77,064 per year
• Households of three: income limited to $86,697 per year
• Households of four: income limited to $96,329 per year
• Households of five: income limited to $104,036 per year
• Households of six: income limited to $111,742 per year
• Households of seven: income limited to $119,449 per year
• Households of eight: income limited to $127,155 per year
Both owner-occupied and renter-occupied units may be eligible for the program if the occupants of the units are income-eligible.
Funds for the Housing Improvement Program are limited and will be distributed on a first-come, first-served basis.
The application process is now open, and interested individuals are encouraged to apply online here.
For more information about the program, or for help applying due to lack of internet access, call (609)664-2769 Ext. 9.
