New Jersey Statutes 52:27D-437.5. Grants, loans
Terms Used In New Jersey Statutes 52:27D-437.5
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements and hereditaments and all rights thereto and interests therein. See New Jersey Statutes 1:1-2
b. Financial assistance in the form of a loan may be provided to an eligible owner of multifamily housing, a single-family home or a two-family home based on the owner’s ability to repay the loan as determined by the department.
c. Financial assistance shall be provided for a period to be determined by the department.
d. The department may provide financial assistance, upon application therefor, for up to 100% of the costs of lead hazard control work, including associated lead evaluation costs, and for temporary relocation assistance, except that no award of financial assistance for a dwelling unit may exceed $150,000.
e. Financial assistance provided in the form of a loan shall be secured by a lien upon the real property on which the lead hazard control work is performed, with respect to which the financial assistance is made and other such collateral as the department may consider necessary to secure the interests of the fund in accordance with the provisions and purposes of P.L.2003, c.311 (C. 52:27D-437.1 et al.). The department may, if it deems necessary, require the financial assistance to be secured by a personal loan guarantee by the owner of the property or by a lien upon other real property belonging to the person to whom the loan is made. The department may authorize a loan in conjunction with an award of a grant for a partial or the total amount of the costs of lead hazard control work.
f. The department shall establish a program to provide the grants authorized pursuant to this section, including grants to remediate lead-based paint hazards identified by a permanent local agency or lead evaluation contractor during an inspection conducted pursuant to P.L.2021, c.182 (C. 52:27D-437.16 et al.). Grants shall not be made available to owners of multiple dwellings comprising more than four separate dwelling units. Priority shall not be granted to any applicant on the basis of the location of the housing. Priority may be given, however, to those residences in which children under the age of six reside, as well as for remediation for lead-based paint hazards identified by a permanent local agency or lead evaluation contractor during an inspection conducted pursuant to P.L.2021, c.182 (C. 52:27D-437.16 et al.). The department may award the grants on a pro-rata basis to the applicants, if there is an insufficient amount in the fund to award grants for the full amount of the projected cost of the lead hazard control work.
L.2003, c.311, s.5; amended 2021, c.182, s.7.