The Gap Funding Initiative (GFI) is offering grants of up to $30,000 to help homeowners cover the costs of home repairs they face as a result of Hurricane Sandy damage. Eligible homeowners must be approved for Rehabilitation, Reconstruction, Elevation and Mitigation (RREM) funds by the New Jersey Department of Community Affairs’ reNEW Jersey Stronger program and still have an ‘unmet need’ to cover the cost of home repairs (see Terms and Eligibility below). GFI awards are intended to bridge these financial gaps.
GFI is a $15 million pool, capitalized by contributions from the American Red Cross and the Hurricane Sandy New Jersey Relief Fund, and is administered by New Jersey Community Capital. GFI is not a reNEW Jersey Stronger or New Jersey Department of Community Affairs program. GFI awards are determined after the RREM Program’s grant award calculation has been finalized and are considered personally obtained funds.
- Housing assistance grant awards of up to $30,000.
- Applicants must have been approved for RREM funding and have signed a RREM Grant Agreement.
- Applicants must have an ‘unmet need’ as determined in the ‘Homeowner Award Calculation’ prepared by the RREM program.
- Applicant households must have an annual adjusted gross income of $100,000 or less or meet the criteria of a low-to-moderate income household as determined by the U.S. Department of Housing and Urban Development (HUD).
- Applicants must reside in one of the following counties in New Jersey: Bergen, Hudson, Essex, Union, Middlesex, Monmouth, Ocean, Atlantic or Cape May.
- Applicants must utilize a ‘RREM-Assigned Contractor’ to complete construction.
- Applications will be reviewed in the order in which they are received until all available award funds are committed.
- Housing assistance grants may not be used to fund homeowner selected upgrades or to reimburse homeowners for previously incurred expenses.
- Housing assistance grants will be placed in awardees’ escrow accounts for disbursement during construction by the RREM escrow agent. Grant funds are applied last to the cost of construction, and unused grant funds will be returned to GFI.
- Download and complete the GFI Application
- Attach your (1) RREM ‘Exhibit 1- Homeowner Award Calculation’ and (2) RREM ‘Homeowner Pathway Selection’ forms.
- Submit the documents (listed above) by mail to:
Gap Funding Initiative
c/o New Jersey Community Capital
108 Church Street, 3rd Floor
New Brunswick, NJ 08901
The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies about 40 percent of the nation's blood; teaches skills that save lives; provides international humanitarian aid; and supports military members and their families. The Red Cross is a not-for-profit organization that depends on volunteers and the generosity of the American public to perform its mission. For more information, please visit www.RedCross.org or visit us on Twitter at @RedCross.
The Hurricane Sandy New Jersey Relief Fund distributes funds to organizations that support the recovery and rebuilding efforts of New Jersey communities impacted by the storm. The Relief Fund aims to make a sustainable, long-term impact and has awarded grants to more than 80 organizations, totaling $25 million distributed, to date, for home rebuilding, mold remediation, mental health support, economic development, and financial and legal counseling. Donors interested in making a contribution can visit the Fund online at www.SandyNJReliefFund.org or make an immediate, one-time $10 donation directly to their phone bill by texting "SANDY" to 20222.
New Jersey Community Capital (NJCC) is a nonprofit community development financial institution that provides innovative financing and technical assistance to support sustainable community development ventures. Since being founded in 1987, NJCC has invested over $482 million to support families and communities in need, resulting in the creation or preservation of over 7,200 housing units, 6,600 early care spaces, 9,000 education slots, and 4,200 jobs across New Jersey. For more information about our programs www.NewJerseyCommunityCapital.org.