May-15-09 DCA, HMFA Launch Next Phase of Camden Home Improvement Program
DCA, HMFA Launch Next Phase of Camden Home Improvement Program
CAMDEN - The New Jersey Department of Community Affairs (DCA) and the New Jersey Housing and Mortgage Finance Agency (HMFA) today announced the launch of Phase III of the Camden Home Improvement Program (CHIP). The announcement took place at Saint Joan of Arc Church in Camden.
"CHIP is just one of many programs that exemplify Governor Corzine's efforts to provide New Jersey residents with good, safe housing," said DCA Commissioner Joseph Doria. "Phase I and II of CHIP allowed many hard working residents of Camden to make much needed home improvements. There is no doubt that Phase III will be just as successful."
CHIP provides up to $20,000 in forgivable loans for eligible Camden homeowners to make life safety home improvements. CHIP, which began in 2006 as a pilot program, was initiated by Camden community-based organizations, specifically Camden Churches Organized for People (CCOP), Concerned Black Clergy and the Camden Community Development Association (CCDA).
"This is a terrific program that is making a real difference in people's lives by providing residents with the opportunity to make much needed repairs on their homes that they otherwise would not be able to afford," said HMFA Executive Director Marge Della Vecchia.
CHIP is funded with $5 million from the Economic Recovery Board for Camden, $2.5 million from the DCA, and additional funding from the City of Camden. Phase III will reach approximately 100 homeowners. Phases I and II are successfully being managed by Cooper's Ferry Development Association (CFDA) with work already complete on 108 homes. An additional 52 homes are undergoing construction, and 40 homes are in the application review process. In total, once all three phases are complete, CHIP will benefit approximately 300 homeowners throughout the City.
In addition to having an influence on housing values, CHIP has also been helping support the local economy during these tough economic times. A recent study by the Federal Reserve Bank of Philadelphia found that housing rehabilitation programs in the City has had a statistically significant positive impact on housing values in the sections of Camden that were targeted for investment.
"We are very pleased with how the program has gone," said Reverend Willie L. Anderson, Chairman of the CCOP. "We are also pleased to see that the state and the community can work together to help the residents of areas such as Camden where people need assistance during these difficult and trying times."
Cooper's Ferry and CCOP have scheduled public information sessions for homeowners to provide information about the program and the application process for the Phase III neighborhoods which include: Central Business District, Central Waterfront, Cooper Grant, Fairview, Lanning Square, Morgan Village, and Parkside and Marlton. Information about these meetings is listed below.
CHIP Information Sessions:
Tuesday, May 26th, 7-8 p.m.
New Mickle Baptist Church
Lanning Square Neighborhood
416 South 4th Street
Camden, NJ 08103
Wednesday, May 27th, 7-8 p.m.
Parkside United Methodist Church
1420 Kaighns Avenue
Camden, NJ 08103
Thursday, May 28th, 7-8 p.m.
Woodland Avenue Presbyterian Church
Morgan Village Neighborhood
2300 South 8th Street
Camden, NJ 08104
Applications are now available and are due Friday, June 12th, 2009 and can be submitted at one of the three public information sessions or directly to Cooper's Ferry Development Association, CHIP Program Administrator, located at One Port Center, 2 Riverside Drive in Camden at either the security desk on the first floor or directly to Cooper's Ferry, Suite 501, 5th floor. For additional information, please log-on to www.CamdenCHIP.com or call 1-856-757-9422.