LAKEWOOD — The Lakewood Township Rental Assistance Program (LTRAP) was the recent recipient of $2.2 million in additional government funding. The funding was approved by the U.S. Department of Housing and Urban Devel-opment (HUD) for fiscal year 2001.
According to a recent statement from Henya Richter, the chief financial officer for LTRAP, this is the largest single award ever received by Lakewood since the voucher program began in 1977 with just 80 available slots.
At present, according to Richter, with a total annual budget of $10.5 million, the additional 203 vouchers this award provides for means the township can now assist a total of 1,017 households.
Richter explained that originally, Section 8 or federal subsidies were available in the form of certificates. She said that since 1998, Section 8 vouchers have replaced the certificates.
She said the original certificate program regulations mandated rent ceilings known as Fair Market Rents (FMRs). Richter said FMRs were updated annually by HUD and a unit renting above the established FMR was not eligible for a subsidy.
Now, according to Richter, rent ceilings have been abolished and there are "payment standards" set according to unit size and number of bedrooms. The difference between 30 percent of a family’s adjusted monthly income and the payment standard is the subsidy amount.
Richter noted that another "significant innovation" in the Section 8 program is the ability for participants to own their own homes and use the subsidy to pay off a mortgage. She said 12 applicants have already made the transition from renters to owners because of the program.
LTRAP Director Meir N. Hertz said, however, "Despite the progress made, the local need for affordable housing generally, and housing subsidies specifically, remains overwhelming."
Hertz went on to note that as "the cost of housing is rising much faster than wages and incomes, affordable housing is becoming more elusive."
Hertz said the recent award of the 203 LTRAP vouchers combined with the 151 vouchers awarded to the Lakewood Housing Authority are not enough.
According to Hertz, "The recent award of 354 vouchers to Lakewood is simply not enough to meet the long, pent-up demand in Lakewood and throughout Ocean County. With all of the recent layoffs and deepening economic crisis, I believe we will see housing distress deepening and becoming more painful."
Hertz said housing must become a top item on the public agenda for elected officials.
"We must develop a coherent housing strategy and allocate the necessary resources," the LTRAP director said.
— Kathy Baratta