NATIONAL ASSOCIATION FOR COUNTY
COMMUNITY AND ECONOMIC DEVELOPMENT
Success Story Submission
County/Organization: Bergen County, NJ/Madeline Corporation______
Project/Program Name Tenafly Supportive Housing______
Point of Contact:
Name Eamon Bencivengo Title Project Coordinator
Address 6 Forest Ave City Paramus
State NJ Zip 07652
Phone 201-291-0650
1. BRIEF SUMMARY: Briefly describe the problem and solution for the project or program. The Borough of Tenafly located an undeveloped piece of raw land owned by a private citizen. Recognizing an opportunity to reach its goal of providing more affordable units, the Borough bought the property for nearly $1 million with dollars earmarked for affordable housing from its Housing Trust Fund. The Borough then transferred the parcel to Madeline Corporation at no cost in order to develop and construct the affordable project.
2. RESULTS: Describe the tangible results of the project or program. Describe how the project or program will be sustained over the long term. If the project or program is not currently operating, please explain why not. Madeline Corporation has developed the property into two detached townhouse apartments serving 10 individuals with special needs in 4, two-bedroom apartments and 2, one-bedroom apartments. The apartment buildings are separated by a court-yard, with a community room housed one of the buildings. The project will be sustained over the long term through project replacement reserves and tenant rents.
3. PARTNERS: List the names of the agencies and organizations involved in the project or program. County of Bergen Division of Community Development, New Jersey Housing and Mortgage Finance Agency, and Borough of Tenafly, NJ.
4. COSTS AND SOURCES OF FINANCING: Describe the source(s) and use(s) of funds to construct the project or start up the program, as well as the sources and uses of ongoing operating funds if applicable. Please indicate which agency or organization secured the source of funding.
New Jersey Housing and Mortgage Finance Agency - $1,104,216
County of Bergen Division of Community Development – HOME Funds - $800,000
Borough of Tenafly - $999,999 (from housing trust fund for property acquisition)
5. PICTURES: Please include any relevant pictures of the project or program—especially before and after pictures.
Before:
During:
After:
Please submit forms and questions to:
Heather Voorman, Policy Director
2025 M Street, N.W., Suite 800
Washington, DC 20036
Phone: (202) 367-2405 ▪ Fax: (202) 367-2197