Lakewood begins housing rehab program

LAKEWOOD — The Township Committee recently awarded a contract to Housing Services Inc. to administer the Lakewood Township Community Development Block Grant (CDBG) Housing Rehabilitation Program.

The CDBG is a federal entitlement grant that the municipality received from the U.S. Department of Housing and Urban Development.

"We are very excited about the housing rehab program," said Mayor Marta Harrison. "These grant dollars will help some low- and middle-income residents make critical repairs to their homes, which in some cases may keep them in their house."

The program will provide funding of up to $15,000 to eligible applicants for the rehabilitation of low- and moderate-income housing units. A six-year deferred mortgage loan is executed between the township and the applicant. The homeowner is not required to pay the loan back as long as they remain in the home for the full six years.

"The CDBG Housing Rehab Program provides the township with another tool to help preserve some of our existing affordable housing stock," said Harrison. "I believe that working to preserve existing housing is an activity that we must not overlook in our effort to provide clean, decent, affordable housing for Lakewood residents."