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WASHINGTON – U.S. Rep. Bill Pascrell, Jr. (D-NJ-08) today announced the groundbreaking for the renewal of the Alexander Hamilton public housing projects on Alabama Avenue in Paterson. The start of the project is made possible by the American Reinvestment and Recovery Act of 2009, which earmarked millions of dollars in tax credits and grants for the demolition of the buildings currently standing.
“This is a great day for the city of Paterson as well as the 8th Congressional District,” said Pascrell, a lifelong resident and former mayor of Paterson who helped craft and voted in support of the federal stimulus. “The modernization of Paterson’s public housing will not only advance new housing opportunities for low and moderate income families in Paterson, but it will also put people to work.”
The ARRA, or federal stimulus, granted $2.7 million of public housing capital funding that allowed for the acceleration of demolition plans. The federal stimulus also awarded $3.2 million in tax credits to the state House and Mortgage Finance Agency that helped secure financing for the project.
For the past several years, the Congressman has worked closely with the Paterson Housing Authority and the City of Paterson to replaces the high-rise, low-income housing projects that were designed over fifty years ago and had become an unnecessary burden to the public safety, environmental health and general well-being of Paterson.
Collaboration across all levels of government, from the federal government, to the City, to the Housing Authority, was necessary to ensure the success of this project.
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