Long Branch Housing Authority Looking to Begin Next Phase of Woodrow Wilson Apartments Project

The construction of the Long Branch Housing Authority's (LBHA) rennovated Woodrow Wilson apartments in progressing, and the group now has its eyes set on the next phase of the project.

During Tuesday night's meeting, the Long Branch Council passed a resolution  that will allow the LBHA to make payments in lieu of taxes for the third phase of the project, because of the fact that the project project qualifies for a tax abatement under the Long Term Tax Exemption Law. The council's approval of the resolution is a necessary step for the authority's application with the Department of Housing and Urban Development.

The LBHA will also apply fax credit financing through the Housing and Mortgage Finance Agency (HMFA); the same process it is went through for the first two phases of the project.

LBHA Deputy Chief of Staff Chris Pugliese said the third phase of the project will be built on the southeast part of property at the corner West End Avenue and Wardell Place.

"It will be a truly mixed-income community, it's 52 total units," Pugliese said.

Pugliese said the first phase of the project includes 65 units and the second phase includes 57 units. He said those projects are about 40 percent complete. Residents are expected to be able to move in to the new units by November or December.

The project totals $14,417,269 and will be funded by low income housing tax credit equity, a community development block grant, a deferred developer fee and NJHMFA debt. Pugliese the LBHA must apply for the tax credits and grant.

"We're quite confident that with the (council's) support we should be able to achieve both of those funding allocations," Pugliese said.