On Thursday, January 24 the Senate Community and Urban Affairs Committee is scheduled to consider S-159 sponsored by Senator Diane Allen. This legislation (attached) would require the “Main Street New Jersey” program after the effective date of the bill, to be administered by the New Jersey Housing and Mortgage Finance Agency (HMFA) in conjunction with its “At Home Downtown” through an interdepartmental agreement with the Department of Community Affairs. The bill would also make “At Home Downtown” a statutory program. The purpose of the “Main Street New Jersey” program is to provide small business assistance services to local downtown communities, including business owners and entrepreneurs, with a long term goal of revitalizing local downtown areas. The “At Home Downtown” program provides below market-rate mortgage funds to acquire, rehabilitate, refinance and construct residential structures with a storefront component, thereby reviving the mercantile and housing potential of main street and commercial areas of the State.