Hamilton Township’s Department of Community and Economic Development announces program to assist with utility, rent and mortgage relief to qualifying Township businesses.
Earlier this month Hamilton Township announced that it had secured over $650,000 of its federal Community Development Block Grant (CDBG) CARES Funds (CDBG-CV 3) in order to fund the Township’s Mortgage & Rental Relief Program. Program applications will fall into two categories – residential and business assistance. Residential applications will be reviewed in coordination by the Township and Arm In Arm, a local non-profit agency which assists Mercer County residents with food, housing, and job support. While business applications will be reviewed in coordination by the Township and Triad Associations, a New Jersey and Pennsylvania based company with over 40 years of experience in grant writing, housing, community and economic develop, and strategic planning solutions.
The business portion of the Mortgage & Rental Relief Program will allow for rental and mortgage assistance for businesses who have been sufficiently impacted by the COVID-19 pandemic. To be eligible, businesses must have been operating continuously with the same ownership since 2018 and provide documentation on the financial health of the business over the last 4 years. Businesses must have at least one full-time equivalent employee other than the owner(s), but not exceed 25 total number of employees, including the business owner(s). The emergency rental or mortgage assistance grant has a cap of $10,000 throughout a period of six months.
“Our residents and businesses have had their lives disrupted over the last 11 months due to the pandemic. If there is one thing COVID-19 has shown us is that we must come together and help each other out as a community. This program goes a long way to do just that and help out the businesses and residents of our Hamilton community, said Mayor Jeff Martin. “I want to thank Fred Dumont, Director of Community & Economic Development, and his team for partnering with Arm In Arm and Triad Associates so these funds get distributed as quickly as possible to those who need them.”
As announced earlier this month, the residential portion of the Mortgage & Rental Relief Program will allow for rental, mortgage or utility assistance to low and moderate income households that have had a substantial reduction in income or became unemployed due to the COVID-19 pandemic. The emergency rental or mortgage assistance grant has a cap of $10,000 throughout a period of six months. All approved applicants will be reviewed at the three-month interval to see if they are still in need of assistance.
“The release of this portion of our Mortgage and Rental Relief program for our businesses is the shot in the arm that they needed,” stated Fred Dumont, Director of Community & Economic Development. “Many of our businesses were wondering how they were going to pay their bills this winter. Giving them this relief is a win for everyone in Hamilton Township.”
Individuals and businesses seeking to review the program requirements or to apply may do so by visiting HamiltonNJ.com/MortgageRentalRelief.