Rep. Sherrill Congratulates Local Organizations on $260K in Federal Home Loan Bank Awards

Grants subsidize small, group-home projects for individuals with developmental disabilities

WASHINGTON,D C — Rep. Mikie Sherrill announced four grants today from the Federal Home Loan Bank of New York (FHLBNY) that will help fund local housing developments for individuals with developmental disabilities in Wayne, Denville, and Wanaque. The projects create supportive group housing facilities in the style of single-family homes.

“Safe, decent, affordable housing is essential to a person’s quality of life. These projects help ensure individuals with developmental disabilities can reside in an environment where we would want our loved ones to live,” said Rep. Sherrill. “Congratulations to the grant awardees, and thank you for taking on these important projects.”

Nouvelle Housing Solutions will receive a $60,000 subsidy to help fund the Wayne Nouvelle Supportive Housing. Avidd Community Services NJ will receive $100,000 for Zeek Road Supportive Housing in Denville, and Children’s Aid and Family Services will receive $100,000 for Locust Street Supportive Housing. All three developments will feature ADA-accessible single-family homes with four bedrooms, two bathrooms, an office, and common living rooms, dining rooms, kitchens, and laundry areas, and they will offer supportive services to residents.

The FHLBNY devotes 10 percent of its annual income to affordable housing projects. Each year, they partner with member banks, credit unions, insurance companies, and community development financial institutions to award grants to these projects. FHLBNY has awarded $36.9 million to fund 46 affordable housing initiatives throughout New Jersey, New York, Puerto Rico, Connecticut and Washington, D.C. These awards will result in the creation, rehabilitation or preservation of 3,140 units of affordable housing.