Eatontown Organization Awarded Grant to Fix Up Affordable Homes in Monmouth County

From the Affordable Housing Alliance:

The (AHA) has announced that has been awarded a $227,500 affordable housing grant to renovate and weatherize existing affordable homes in Monmouth County. The is one of 115 NeighborWorks organizations nationally to receive $34.9 million in Capital Funding for the Rehabilitation of Affordable Housing (CFRAH) grants to rehabilitate or finance the rehabilitation of affordable housing, including smaller and rural communities with affordable housing needs.

Donna M. Blaze, CEO of the Affordable Housing Alliance, states “We are thrilled to receive this federal funding. Our agency was created in 1991, and these funds will be used to upgrade thirty-three of the oldest units in our portfolio, located in Highlands, Millstone and Oceanport. Our renovation plans will focus on improving energy efficiency, reducing energy consumption, and enhancing the comfort and safety of our residents’ living environment. These plans will include the acquisition of new Energy Star appliances, heating systems, new windows and doors, improved insulation and water conservation measures. These upgrades will reduce our future operating costs as well as reduce utility costs for our tenants. ”

Blaze added that this funding will help sustain and strengthen our local communities. “By renovating these properties, local residents will be able to remain in their homes and the funding will create jobs for local contractors and suppliers,” says Blaze.

About The Capital Funding for the Rehabilitation of Affordable Housing Grants

The Capital Funding for the Rehabilitation of Affordable Housing grants were made possible through the Public Laws 111-142, 111-290, 111-317, 111-322, 112-4, 112-6 and 112-10 the final bill signed into law on April 15, 2011.  Just four months after the CFRAH funds were appropriated to NeighborWorks America, communities across our country are able to put the funds to immediate use.

Demand for these funds far exceeded the amount of funds available; eligible applicants requested over $53,000,000 in grant funds. A cap was placed on the amount of funds any one applicant could request; without this cap, the requested amount would have been much higher.