HOBOKEN – The Hoboken City Council is scheduled to address a resolution on Wednesday night that would approve approximately $48,000 for the uptown YMCA from the city’s affordable housing fund.
The fund currently has a balance of $72,663, according to a memo from Mayor Dawn Zimmer to the council.
“These funds may only be used for affordable housing projects such as this one,” Zimmer said in her memo. “The YMCA is seeking this bridge funding in order to close on the financing for the project which will create 96 single-room occupancy units of low and moderate income housing.”
In March 2010, the YMCA shut down its health and family programming in preparation for expansion and a renovation project. However, it still maintains housing for low-income men, and plans to expand.
Also on the agenda is a resolution that would approve an application to the Council On Affordable Housing (COAH) to reallocate money from the affordable housing fund to the Hoboken Shelter on Bloomfield Street.
For much more, keep watching HudsonReporter.com and make sure to pick up a copy of The Hoboken Reporter this weekend. – Ray Smith