LRRP Frequently Asked Questions
1) What are the eligibilty requirements for LRRP?
To be considered eligible for the LRRP you must be an owner of a rental property with between 1-25 units. You may be either a for-profit or nonprofit owner, but you must demonstrate valid site control. Additionally, you must have proof that the units sustained damage during the storm. This can be verified by an inspection from the LRRP Construction Manager or data from a State and Federal source demonstrating the unit was damaged by Superstorm Sandy. The property owner’s income is not a factor. Lastly, the property cannot be in bankruptcy or foreclosure.
2) Can I apply for LRRP for repairs already made on my rental property units?
Reimbursement for completed repairs may be available for properties that contain 1-4 units and that are not substantially damaged. The completion of the repairs and the cost must be confirmed by a program inspector.
3) For LRRP, do my damaged rental units have to be located in certain counties?
The program is required to spend 70% of funding on rental units located in the 9 most impacted counties: Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean, and Union. Thirty percent (30%) of the funds can be spent on Sandy-damaged rental units located elsewhere in NJ.