Piazza & Associates. Affordable Housing Services

Save this PDF as:

Size: px
Start display at page:

Download "Piazza & Associates. Affordable Housing Services"


1 Piazza & Associates Affordable Housing Services 26 Rockingham Row - Princeton Forrestal Village - Princeton, NJ Phone: (609) Fax: (609) Dear Applicant, Thank you for your interest in the affordable housing program in the Township of South Orange Village, New Jersey. has been engaged by the Township to coordinate the affordable housing opportunities on its behalf. We are proud to announce the development of a brand new affordable housing opportunity at Third & Valley, a luxury apartment community which incorporates 2 low and moderate income apartments. The rental rates and income limits for the rental program can be found in the attached flyer. Please note that two of the apartments at Third & Valley are set aside with a preference for qualified veterans under N.J.A.C. 54:4-8.0, with the submission of form DD24. If you are interested in applying for the rental program, please complete the Preliminary Application (attached) and fax or mail it directly to us: 26 Rockingham Row Princeton, NJ Fax: Within three weeks, you will receive a letter of determination with regard to your preliminary eligibility. A lottery or random selection will be held to determine the priority number of the applications that are received. When an affordable apartment of the applicable size and income category becomes available, we will notify applicants on the waiting list in priority order. At that time, a Final Application will be required, together with supporting documentation to verify both household composition and gross annual income. In addition to the affordable housing criteria administered by us on behalf of the Township, the applicant will be subject to the standard tenant selection criteria set forth by the landlord. For questions about the affordable housing program, contact Piazza & Associates, at , ext Sincerely, Frank Piazza The maximum income is based on the total number of persons who will reside in the affordable home. All rents, limits, terms and conditions are subject to change without notice. Rev.. /3/205

2 Township of South Orange Village Essex County, New Jersey Preliminary Application For Affordable Housing Affordable Housing Application Information: This is a Preliminary Application only. Do not send supporting documentation at this time. You will be notified as to the status of your preliminary eligibility based on the information that you provide in this application. When an affordable home becomes available, eligible candidates will be contacted. At that time, we will provide you with a list of documentation that you will need to support and verify the information submitted in this application. We can not and do not guarantee housing based on the approval of this Preliminary Application. Affordable housing certification and monitoring services are provided by on behalf of the Township of South Orange Village. Neither, nor the Township provides legal, real estate, or financial services. This program is subject to municipal and state affordable housing regulations, but no guarantee can be made that these homes are affordable to all applicants. This program is subject to availability. Rental rates, terms and conditions are subject to change without notice. This is an Equal Housing Opportunity.

3 Affordable Housing Policies and Requirements Township of South Orange Essex County, New Jersey For All Applicants This is an equal housing opportunity. Federal law prohibits discrimination against any person making application to buy or rent a home with regard to age, race, religion, national origin, sex, handicapped or familial status. State law prohibits discrimination on the basis of race, creed, color, national origin, ancestry, nationality, marital or domestic partnership or civil union status, familial status, sex, gender identity or expression, affectional or sexual orientation, disability, source of lawful income or source of lawful rent payment. This affordable housing must be the intended primary residence of the applicant. All household members who intend to reside at the affordable apartment must be listed in the Preliminary Application. If changes in household composition occur during the application process, or if there is a change of address, the applicant is required to notify Piazza & Associates, Inc. in writing, immediately. Applications must be truthful, complete and accurate. Any false statement makes the application null and void and subjects the applicant to penalties imposed by law. Annual Income includes, but is not limited to, salary or wages, alimony, child support, social security benefits, unemployment benefits, pensions, business income, and actual or imputed earnings from assets (which include bank accounts, certificates of deposit, stocks, bonds, or other securities), and real estate. If you own a home in which you are currently residing and which you intend to sell prior to living in an affordable home, compute your income from this asset by taking the market value of your home, subtracting the mortgage principal, and multiplying the balance by the current HUD Passbook Savings Rate.. Income from other real estate holdings is determined by the actual income you receive from the asset (less expenses). If you have no outstanding mortgage debt, the value of your home will be subject to a maximum appraised value limit, which, when exceeded, may disqualify you form this program. Specific documentation to verify income and assets will be required at a later date, during the final portion of the application process, during which no changes will be allowed. Qualified veterans must be income qualified AND be eligible under N.J.A.C. 54:4-8.0 AND be able to provide form DD24 to verify qualified service as set forth therein. Please understand that the rental rates for this affordable housing are established and governed by State and / or municipal regulations. Although consideration is made for very low-, low- and moderate- categories of household incomes, rental rates do not fluctuate on the basis of each individual applicant's income. Therefore, we can not and do not guarantee that any apartment for rent will be affordable to YOU or YOUR household. The owners and managers of affordable apartments will set forth additional requirements, including, but not limited to an application fee, a lease agreement, security deposit and minimum credit standards. Once leased, rents will NOT be adjusted to accommodate fluctuations in household income. Rental rate increases may occur annually, but are subject to limitations. If you need assistance completing this application, please contact us at assistance. Please detach and mail the form to the address below or it to Please do not send supporting documentation at this time. 26 Rockingham Row - Princeton, NJ 08540

4 Preliminary Application for Affordable Housing Township of South Orange Essex County, NJ. A. Head of Household Information. Last Name: 2. First Name: 3. Home Address: 4. P.O. Box or Apt. No.: 5. City: Soc. Sec. No: Home Phone: Work Phone: County: State: ZIP: VETERANS: Check here if you are a qualified veteran under N.J.A.C. 54::4-8.0 and attach form DD24. B. Household Composition and Income (List ALL sources of income, including, but not limited to Salary, Dividends, Social Security, Child Support, Alimony & Pensions. DO NOT include income from Assets listed in Section C.) Full Name (First, Middle & Last) Relation To Date of Birth Sex Gross Annual Income List everyone who will occupy the apartment. # #2 #3 #4 #5 #6 Head of Household C. Assets (Bank Accounts, Cert. of Deposit, Mutual Funds, Real Estate, Etc. If you own the home in which you live, clearly indicate BOTH the market value & your equity in the home Your equity equals the market value less any outstanding mortgage Principal.) Type of Asset Current Market Value of Asset Estimated Annual Income Interest Rate F. Important Information (Must be signed by everyone over the age of 7.) I(We) hereby authorize the Township of South Orange Village and/or Piazza & Associates, Inc., their agents and/or employees to obtain information regarding the status of my(our) credit, and to check the accuracy of any and all statements and representations made in this application. I(We) certify that all information in this application is accurate, complete and true. I(We) understand that if any statements made are willingly false, the application is null and void, and I(we) may be subject to penalties imposed by law. Void if not signed by alll household members 8 and over. Signed: Date: Signed: Date: D. Addition Information Do you receive Section 8 Rental Assistance that will apply to the affordable apt?: Do you PAY alimony and/or child support to someone outside the household? If you do, how much do you pay per month? E. Preferences No. of Bedrooms (limited by number in household): Studio? One? Two? Three? Do you require a handicap-accessible home?:

5 AFFORDABLE HOUSING FOR RENT SOUTH ORANGE, NJ UNIT SIZE Studio INCOME TYPE MONTHLY RENT 689 UNITS AVAILABLE HOUSEHOLD SIZE person ANNUAL HOUSEHOLD EARNINGS 26,606-3,75 26,606-36,246 APPLICATIONS or us at: Studio BR BR BR 3 BR 3 BR Very Very ,065,000, person person person person 5 persons 6 persons 5 persons 6 persons 32,26-50,744 32,26-57,993 20,366-3,75 20,366-36,246 28,800-3,75 28,800-36,246 34,629-50,744 34,629-57,993 24,4-36,246 24,4-40,777 24,4-45,307 34,423-36,246 34,423-40,777 34,423-45,307 4,383-57,993 4,383-65,242 4,383-72,492 40,25-40,777 40,25-45,307 40,25-48,932 40,25-52,556 48,309-65,242 48,309-72,492 48,309-78,29 48,309-84, Rockingham Row Princeton, NJ (609) (press 5 at the prompt) Monday Thursday, 9:30 to 5:30 Friday 9:30 to 4:30 DIRECTIONS From North/NJ and New York: Take the Garden State Parkway to exit 43A toward Maplewood/Lyons Ave (443 ft.). Turn right onto Union Ave (0. mi). Turn right at the st cross street onto Nye Ave (0. mi). Turn left at the st cross street onto Ball St (0. mi). Continue onto Washinton Ave (33 ft). Sharp left onto Springfield Ave (. mi). Turn right onto Franklin Terrace (0.2 mi). Turn left onto Elmwood Ave (0.2 mi). Continue onto Boyden Ave (97 ft). Turn left onto Elmwood Ave (0.8 mi). Turn right onto Prospect St (0.9 mi). Turn left onto 3rd St (0.2 mi). Turn left at the 2nd cross street onto Valley St (95 ft.). From South: Take the Garden State Parkway to exit 43 and follow directions above. 53 Valley Street South Orange, New Jersey ThirdandValleyApts.com Preference for Very Income apartments will be given to applicants whose income is less than the minimum income for the Income apartments. is the Administrative Agent for Affordable Housing. Rental rates and income limits subject to change without notice. Eligible income qualified households only. A preference will be given to qualified veterans for two of the apartments. Other restrictions apply. We are pledged to the letter and spirit of U.S. Policy for the achievement of equal housing and employment opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing or employment because of race, color, religion, sex, sexual orientation, handicap, familial status or national origin.