New Jersey Housing and Mortgage Finance Agency’s Board updated its priorities for the 2016 Volume Cap for Multifamily Tax Exempt Bond Financing Programs due to large demand. HMFA attributes the increase in applications to the success of its Conduit Bond Financing Program and the leveraging of Superstorm Sandy CDBG-DR funds.

The priorities for currently available 2016 cap are as follows:

  1. Superstorm Sandy projects receiving Fund for the Restoration of Multifamily Housing (FRM) and/or Sandy Special Needs Housing Fund (SSNHF) funds; and
  2. Non-Sandy projects that have received an HMFA commitment

Click here to download the volume cap selection criteria.