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New Jersey Statutes Title 52. State Government, Departments and Officers 52 § 15D-4

Current as of January 01, 2024 | Updated by Findlaw Staff

As used in P.L.2015, c. 102 (C.52:15D-3 et seq.), as amended and supplemented:

“Agency” means the New Jersey Housing and Mortgage Finance Agency established pursuant to section 4 of P.L.1983, c. 530 (C.55:14K-4).

“Applicant” means an individual or business that has applied for, is waiting for, or is receiving benefits under a recovery and rebuilding program, and shall include individuals who are awaiting the completion of a construction project using benefits received under a recovery and rebuilding program.

“Commissioner” means the Commissioner of Community Affairs.

“Department” means the Department of Community Affairs.

“Forbearance” means a period of time during which obligations for mortgage and interest payments are suspended.

“FRM” means the Fund for Restoration of Multifamily Housing.

“Qualified contractor pool” means a listing of contractors approved by the Department of Community Affairs participating in the RREM program.

“LMI” means Low-to-Moderate Income and the program for which policies and procedures have been adopted by the Department of Community Affairs.

“Mortgage” means a mortgage, trust deed, or other security in the nature of a residential mortgage.

“Recovery and rebuilding program” means the use of funding provided by the federal government for the RREM and LMI programs, which are intended to help individuals rebuild and recover from Superstorm Sandy, the TBRA program, which is intended to assist renters in returning to and residing in areas impacted by Superstorm Sandy, and the FRM program, which is intended to assist developers in repairing or replacing rental housing units damaged or destroyed by Superstorm Sandy.

“RREM” means Reconstruction, Rehabilitation, Elevation and Mitigation.

“Sandy-impacted homeowner” means a homeowner for whom one or both of the following are true:

(1) the homeowner received rental assistance from the Federal Emergency Management Agency as a result of damage to his or her primary residence due to Superstorm Sandy; or

(2) the homeowner has been approved for assistance through the RREM or LMI program.

“Superstorm Sandy” means the major storm that made landfall in New Jersey on October 29, 2012.

“TBRA” means Tenant-Based Rental Assistance.

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Cite this article: FindLaw.com - New Jersey Statutes Title 52. State Government, Departments and Officers 52 § 15D-4 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-52-state-government-departments-and-officers/nj-st-sect-52-15d-4/

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