Community Development

Atlantic County Housing Rehabilitation Program

The Office of Community Development administers no-interest, deferred loans for Atlantic County and various Municipalities for housing rehabilitation for very low and low income home owners.  The Housing Rehabilitation Program can address all basic rehabilitation needs of a home, meaning plumbing, heating, electric and roof, plus windows, doors, insulation and exterior repair and painting.

The Conditions of Eligibility for Rehabilitation
In order to qualify for deferred loans under the Program, applicants must be the property owner and occupant, meet the income criteria as described below, have the home properly insured and have the Municipal property taxes paid up to the current quarter.  An inspector from the Office of Community Development will complete a property inspection and advise you as to which improvements the Program can finance.  A deferred loan has one payment at time of sale of the home, or transfer of title.

LOW  INCOME: 100% INTEREST FREE DEFERRED LOAN - To qualify for a 100% interest free deferred loan, a household's income cannot exceed 80% of the Median Income for Atlantic County in accordance with HUD published Section 8 Income Guidelines.

These income levels are (2019):

# of Household Members	80% of Median Income
1 Person		$43,050
2 Persons		$49,200
3 Persons		$55,350
4 Persons		$61,500
5 Persons		$66,450
6 Persons		$71,350
7 Persons		$76,300
8 Persons		$81,200

 

If there are any questions, please do not hesitate to contact Joseph J. Giralo, Program Administrator, at (609)343-2390, ext. 2159, Monday through Friday, 8 a.m. to 2:30 p.m.

Revised April 2015

NOTICE TO HOUSING REHABILITATION CONTRACTORS
BIDDING OPPORTUNITIES
ATLANTIC COUNTY IMPROVEMENT AUTHORITY (ACIA)

The ACIA administers Housing Rehabilitation Programs for all Atlantic County municipalities. Activities funded under these programs consist of General Housing Rehabilitation of single family homes including but not limited to Roofs, Heating, Electrical, Plumbing, Weatherization, Septic System Installation, and Debris Removal. Each year we typically fund between 70 and 100 contracts between qualified homeowners and contractors from our approved bidder’s list. The average contract is around $20,000 and depending on funding availability the total of those contracts can be in excess of $1,000,000 per year.

If you are a contractor and would like to participate in the program you must be added to our approved contractors list. You can download a Contractors Application Form here or obtain a copy by contacting Joseph J. Giralo, Program Administrator at the ACIA at 609-343-2390.  Completed applications should be sent to Mr. Giralo at the ACIA at 1333 Atlantic Avenue, Suite 700, Atlantic City, NJ 08401. Women and Minority Businesses are encouraged to apply.

Atlantic County Homebuyers Program

The Atlantic County Home Buyer’s Program is currently OPEN and accepting applications at this time.

Program Information

• Program Participants
• Program Objectives
• Eligible Applicants
• Eligible Properties
• Program Financing
• Program Procedure
• Program Requirements
• Federal Housing Quality Standards
• Contact Information

Program Participants:

The Atlantic County Improvement Authority (ACIA), Home Buyers and Lenders utilizing approved Mortgage programs.  The ACIA reserves the right to reject mortgages that contain terms and/or conditions that conflict with the goals of the program.

Program Objective:

To increase home ownership opportunities in Atlantic County by overcoming the obstacles created by the down payment and closing cost requirements faced by low/moderate income families when purchasing a home. 

Eligible Applicants:

     HOUSEHOLDS

1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
2. Who have not owned a home for the last three years.
3. With acceptable credit history and the ability to obtain an approved mortgage, through NJHMFA Lenders
4. With incomes below 80% of Median income:
   

These income levels are (2019):

 

# of Household Members	80% of Median Income
1 Person		$43,050
2 Persons		$49,200
3 Persons		$55,350
4 Persons		$61,500
5 Persons		$66,450
6 Persons		$71,350
7 Persons		$76,300
8 Persons		$81,200

 

Eligible Properties:

1. Single Family Residences located in Atlantic County excluding Atlantic City.
2. Sale Price cannot exceed $200,000.00
3. Property must meet all requirements for an approved mortgage.

Program Financing:

1. The Program will provide funds determined to be necessary to bridge the gap between the amount of down payment & closing costs required by the approved mortgage, and the amount the home buyer has available UP TO $10,000.00.
2. All funds from this program are forgivable, non-amortizing deferred payment loans subordinate to the first mortgage of the lender. These loans will be forgiven after five (5) years. Prior to that, these loans will be due and payable upon the sale, transfer of title or leasing of the property, or any refinancing of the first mortgage.

Program Procedure:

1. All applicants will be pre-screened by participating lenders for a mortgage pre-approval and good faith estimate of amount of assistance needed.
2. Applicants must obtain the pre-approval letter and good faith estimate from a lending institution that is approved by the State of New Jersey. Go to www.nj.gov to see this list or you may click on the following link:
   Approved Lender List for Program Participation, New Jersery Housing and Mortgage Finance Agency website.
3. The bank/mortgage company representative contacts ACIA to provide the information.
4. Potential recipients will be contacted by ACIA to fill out the application.
5. If approved a certification will be issued for our program.
6. At this point, applicant must be under contract of sale for an eligible property.
7. The applicant will then return to the lender to complete the necessary steps for the mortgage and final determination of the amount of assistance needed according to the program limits and the HUD-1 settlement sheet to be prepared by the Lender/ Title Company.
8. The applicant completes the Homebuyer Counseling program prior to settlement.
9. Funds disbursed accordingly at settlement.

Program Requirements:

Applicants must complete a HUD approved home buyers counseling and education program approved by the Atlantic County Improvement Authority, through either:

Money Management International               1.888.845.5669
Consumer Credit Counseling

Consumer Credit & Budget Counseling       1.888.738.8233

Federal Housing Quality Standards (HQS):

It is a requirement of this program that an inspection be performed on all housing units acquired with these funds to ensure that they meet all Federal Housing Quality Standards (HQS).  Any findings are to be corrected, re-inspected and certified prior to settlement.

For More Information:

Contact Joseph Giralo, Program Administrator, Atlantic County Improvement Authority (Telephone: (609)343-2390), Monday through Friday, 8 a.m. to 2:30 p.m.