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GLOUCESTER CITY HOUSING REHABILITATION PROGRAMS
FOR OWNER OCCUPIED HOMES IN GLOUCESTER CITY
REGIONAL CONTRIBUTION AGREEMENT
EMERGENCY LOAN
Program Overview:
In an attempt to enhance the City’s housing stock, Gloucester City proudly offers three rewarding programs for owner occupied homes.
Since 1984, Gloucester City has offered various programs to address housing rehabilitation needs of eligible
residents in the City.
These loans are at 0% interest and require no monthly payments (non-amortizing). The homeowner must pay the City back when they no longer occupy the property. At that time, a check is made out to the City for the full amount which goes back into the Revolving Loan Fund (RLF) to help future homeowners rehabilitate their residence.
Through these programs, Gloucester City has loaned approximately $4million in construction costs to over 400 Gloucester City owner occupied homeowners to rehabilitate and improve the existing housing stock. Monies are forwarded to Gloucester City in various increments annually. Each loan, along with administrative costs, equals $20,000 a unit. These funds are then loaned out to homeowners who occupy their residences in the City of Gloucester.
Eligibility Requirements:
To qualify for these programs:
O You must be a homeowner/occupant with residence in Gloucester City, NJ.
O You must at least 18 years of age.
O You must meet the NJ Council for Affordable Housing moderate and low-income guidelines based on gross household income and family size (this is changed annually)
O You must provide current homeowner’s insurance.
O You must have your taxes, sewer and water bills paid to date
O Your house cannot be in foreclosure.
O You cannot be in active bankruptcy.
Additional Requirements:
REGIONAL CONTRIBUTION AGREEMENT (RCA) PROGRAM
Utilized to address the spread of decline of properties belonging to low/moderate income residents
O A residence must have enough equity to receive an RCA loan.
O The dwelling itself must demonstrate a need for at least $8,000 in “major system” repair, which includes roofing, heating/cooling, electrical, plumbing, structural, and weatherization.
O The home must be brought up to code: i.e. railings, smoke detectors, CO2 alarms, cracked sidewalk replacement etc.
O Limited funds per unit may make the project unfeasible if extensive repairs are present.
EMERGENCY LOAN PROGRAM
Utilized to address emergency needs
O You must be a low-income homeowner.
O Local building inspector must determine if it is an emergency need.
O Inspector must complete a write-up and cost-estimate for the project.
STEP BY STEP APPLICATION PROCESS:
O Obtain an application from the Community Development Office or click here to download.
O Complete application and submit it to the Community Development Office with a copy of your deed.
O After reviewing the application, you will be notified of your status on the waiting list.
O When requested, you shall submit current income information and other documentation as needed (taxes, sewer and water bill must be paid up to date).
O You will receive a letter indicating either income eligibility or denial.
O A title search will be completed for your property.
O Staff will meet with you to set up an inspection and cost estimate of the property.
O Contractor bids will be sent out and the lowest contractor bid will be recommended by the City.
O You will then enter into a contract agreement with the contractor.
O A loan closing will be set up and a mortgage will be recorded with the Camden County Register of Deeds.