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SELECT renters and homeowners could get free money from a unique annual program next month.
The direct payment opportunity seeks to help residents below certain income limits with the cost of living.
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Eligible candidates can get the cash through the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program, which is in its third year, per News12 New Jersey.
Some residents in The Garden State who already qualify would’ve gotten a letter in the mail after they were sent out starting on August 19.
The Treasury Division of Taxation would’ve already filed applications on those residents’ (about 1.5 million) behalf.
For those who didn’t get a letter, there’s an online application on the division’s website.
DISTRIBUTION AMOUNTS
In 2023, one-time payments from the ANCHOR program were sent to millions of New Jersey residents for amounts ranging from $450 to $1,500.
Some applicants over 65 got a little less at $250.
It’s likely distributions will be within a similar range this year.
The money will be sent out on a rolling basis starting in November.
An application deadline for those who didn’t get a letter has been set for November 30.
For those whose information has changed since their previous ANCHOR payment, an application deadline has already passed on September 15.
The Treasury Division of Taxation noted the ANCHOR program is intended to assist renters and homeowners of all ages, whether that’s young adults renting for the first time or retirees settling down for decades.
More information can be found on The Treasury Division of Taxation’s website or a hotline set up for ANCHOR at 609-826-4282.
HOUSING HOPE
Nearby in New York City, a housing lottery has opened up to provide affordable options to residents.
In Brooklyn, the Crown Heights area has opened a brand-new apartment complex called Weeksville Place.
What is Affordable Housing?
- Housing that low-income Americans can afford while paying for other living necessities
- The United States Department of Housing and Urban Development (HUD) says an occupant should pay no more than 30% of their gross income for affordable housing
- That measure ensures there’s always money leftover for essentials
- Local areas can add other criteria
It was built on a previously vacant lot and has a total of 36 available units with rent stabilization and income restrictions.
Eligible candidates for the lottery must be New York-based families or single occupants and earn 30 to 80% of the Area Median Income.
That’s $18,480 per year for a single and $134,160 for a family of five, per the NYC Housing Connect government website.
There are 15 studios available at a monthly base price of $454 per month and go as high as $654.
Also included are seven one-bedroom units from $577 to $1,676 and 14 two-bedroom units from $1,364 to $1,999.
While applications for the lottery closed on October 28, Weeksville Place’s developer, Settlement Housing Fund, has several other developments in the works in Crown Heights.
