HUD awards $1.8M to stabilize public housing agencies in NJ

WASHINGTON, DC — The U.S. Department of Housing and Urban Development awarded $25 million to 181 public housing agencies experiencing or at risk of experiencing financial shortfalls, according to an Aug. 23 press release. This funding, provided by the 2022 Consolidated Appropriations Act, will enable PHAs to continue serving residents as they take steps to ensure long-term financial solvency.

In New Jersey, five public housing authorities received additional funding totaling $1,830,467. Among them, Irvington Housing Authority will receive $1,510,637.

“The coronavirus pandemic severely affected many public housing authorities in HUD Region II, New York and New Jersey. Early on, HUD provided COVID-19 relief funding to assist with the emergency, and PHAs responded immediately to the needs of their residents providing additional services to keep them safe,” HUD Region II administrator Alicka Ampry-Samuel said. “This new funding will help stabilize the authorities that needed additional funding, ensuring residents continue to live in safe, sanitary and stable housing.” 

PHA awardees facing shortfalls are defined as having less than three months of operating expenses held in reserve. While PHAs of various sizes may have been eligible to receive funding, HUD is concerned with the ability of small PHAs to generate resources to supplement their public housing program, and therefore prioritized these PHAs in the distribution of funds. 

To establish that PHAs that receive shortfall funding take appropriate steps to ensure long-term financial solvency, HUD will undertake the additional monitoring of all PHAs that receive funding under this category. Additionally, HUD has identified and informed the PHAs of recommended actions that the PHAs can take to improve their financial performance. PHAs that receive shortfall funding are required to develop a plan identifying action items the PHA can take to improve their financial performance.

  Department of Housing and Urban Development, Grants, Irvington Housing Authority