LBHA seeks state funds to rebuild Garfield Court
City could break ground on 140-unit project in October
BY CHRISTINE VARNO
Staff Writer

Long Branch

LONG BRANCH - - The Long Branch Housing Authority (LBHA) has applied for state funding to support the redevelopment of one its affordable housing complexes.

The LBHA submitted an application last Friday to the New Jersey Housing Mortgage and Finance Agency for $14 million in tax credits to assist in the reconstruction of the Garfield Court complex.

At the April 10 municipal meeting, council adopted a resolution to support the LBHA's request for the tax credits.

"Every time we submit an application for tax credits, we need the city to support our request," LBHA Executive Director Tyrone Garrett said in an interview last week.

"The city adopted the resolution to support our letter to the state," he said "The city also agrees that if we need assistance, they will help.

"Not for monetary assistance, but to make sure our project conforms to the city's master plan," he added.

Garrett explained that investors, like investment companies, put money into a state treasury fund that is used to fund projects throughout the state, such as the LBHA Garfield Court project.

In return, investors are able to take the amount invested in the fund as a tax write- off for up to 15 years, Garrett said.

If the LBHA receives the funding from the state, it is expected to break ground on the first phase of the 140-unit Garfield Court project in October.

The total project will cost an estimated $18 million, according to Garrett.

If the authority receives the requested funding from the state, the $4 million balance to fund the entire project will come from a HOPE VI grant and from within the LBHA redevelopment fund.

The project will be broken into two phases, with the first phase consisting of the construction of 67 units, according to Garrett.

The first phase is expected to be completed in December 2008, and Garrett said his hope is to break ground on the second phase in October 2008.

The second phase will be comprised of 73 units and will take approximately 12 months to complete, according to Garrett.

All of the units in Garfield Court will be rental units for mixed-income residents, according to Garrett, who added, some of the units will be non-income restrictive units.

Garfield Court is located on the corner of Rockwell and Central avenues and currently houses 162 units.

Due to new square-footage requirements, the new complex will consist of approximately 22 less units than the original building.

"What exists now is barrack-style housing, like military-style units," Garrett said. "We will be building

modern-day town homes.

"The original building was constructed in 1938. We actually have one building unit where the kitchen is so small there is no room for the refrigerator and it somewhat sticks out of the kitchen," he continued.

"When the building was originally built, there were smaller refrigerators. We need more square-footage," he said.

In preparation for the project, the LBHA has begun to relocate the current tenants at Garfield Court, according to Garrett.

The relocated residents will have the first option to return to the new units before the units are offered to the public, Garrett said.

The Garfield Court project is the LBHA's third redevelopment housing project.

At the end of the day, Garrett said, the LBHA will have constructed 275 new units through its Garfield Court, Seaview Manor and Grant

Court redevelopment projects, as well as some additional home-ownership units.

Seaview Manor, on the corner of Seaview and Ellis avenues, has been completed and is fully occupied with 40 families.

The Grant Court project, on the corner of Central and Liberty Streets, has broken ground and is now in the construction phases, according to Garrett.

When Garfield Court is complete, Garrett said the authority will look to construct additional home-ownership units on open space, possibly on Central Avenue.

To date, the agency has received approximately $60 million for its projects and the total cost of all four redevelopment projects is estimated at $137 million.

Garrett said the LBHA will continue to apply for tax credits, and use HOPE VI funds and in-house redevelopment funds to support the completion of the entire redevelopment plan.