State Awards Grants for Affordable Housing in Newark

More than a dozen zero-interest loans have been awarded by the state to construct 84 units of affordable housing, including several units in Newark, the office of Gov. Chris Christie announced this week.

Funding for the loans comes from the $30 million Neighborhood Enhancement Program, which helps nonprofit and for-profit developers finance the rehabilitation of abandoned, foreclosed and vacant housing and the redevelopment of lots to address the shortage of affordable housing caused by Superstorm Sandy last year.  The recovery program, which also aims to return blighted buildings to viability, supports projects in the nine counties most impacted by Superstorm Sandy as determined by the federal government.