Cranford: RSI Bank partners with Monarch Housing Associates to fight homelessness

RSI Bank recently made a donation to Monarch Housing Associates to further its efforts to provide quality housing to those who need it and end homelessness.

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Monarch Housing, headquartered in Cranford, is a nonprofit organization dedicated to creating affordable housing and ending homelessness in New Jersey.

Monarch Housing will use the grant to support its mission to expand the supply, accessibility and variety of affordable, permanent, supportive housing through development, planning, policy, and partnership.

“We are very grateful for RSI’s funding and continued partnership,” Monarch Housing Associates CEO Richard W. Brown said in a news release. “As New Jersey continues to face a housing crisis, RSI’s donation funds our critical work building homes and transforming lives.”

The number of homeless households in New Jersey grew considerably after the housing crisis of 2007 and 2008. NJCounts 2016, the statewide point-in-time count of the homeless, found 8,941 homeless men, women and children across the state of New Jersey. This showed a decrease of 1,270 persons (12.4 percent) from 2015. 

Many factors contribute to homelessness in New Jersey including a lack of affordable housing, a high percentage of jobs that do not pay a living wage, and many jobs that did pay a living wage leaving the state.

Monarch achieves its mission by working in three core areas: Ending homelessness, housing production and public policy, according to a news release.

The Ending Homelessness Team works to end homelessness in New Jersey through sound planning and the creation of housing opportunities for all. It was responsible for coordinating NJCounts 2017, which took place on Wednesday, Jan. 25.
 
The Housing Production Team develops affordable rental housing for people with special needs, seniors and low-income households. Their projects include new construction, rehabilitation, reconfiguration of existing housing, and the adaptive re-use of commercial buildings.

The Public Policy Team focuses on advocacy at the state and federal levels, partnering with the National Alliance to End Homelessness, The National Low Income Housing Coalition, Center on Budget and Policy Priorities, and Housing and Community Development Network of New Jersey.

RSI Bank is happy to support the work that Monarch does to end homelessness in New Jersey.  

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