The New Jersey Housing and Mortgage Finance Agency (HMFA) recently announced the Affordable Housing Gap Subsidy Program (AHGS), approved at the Jan. 13, 2022 board meeting. In light of increased construction costs and project funding gaps resulting from the pandemic and supply chain disruptions, $40,000,000 AHGS funding is available, to be provided in the form of loans to eligible affordable housing projects.
The AHGS financing application submission must contain the documentation as listed in the UNIAP to be deemed a complete financing application. Please refer to pages 14 and 15 of the UNIAP for the required documentation to be submitted. Incomplete financing application submissions will not be processed. Please use the AHGS Checklist and Guidelines when submitting an application.
