Over 100 Groups Urge Gov. Murphy and NJ Legislators to Preserve Housing Trust Fund


Nonprofit community developers and housing advocates today sent a letter to members of the New Jersey General Assembly and the Murphy Administration regarding the State’s Affordable Housing Trust Fund (AHTF, formerly Balanced Housing). In the letter, advocates express concern with the proposed fiscal year 2019 budget which diverts AHTF dollars away from production of affordable homes for lower income residents.

On the proposal, Housing and Community Development Network of New Jersey (the Network) President and Chief Executive Officer Staci Berger issued the following statement:

“A portion of the Realty Transfer Fee is legally dedicated to the Affordable Housing Trust Fund for the sole purpose of creating homes that are affordable. These are homes the residents of our state need and want. The practice of diverting funds over the last decade has been an albatross on our housing market which is why it’s disappointing to see this practice continue.

“NJ is number one in foreclosures, the top state for millennials still living at home and the seventh most expensive place in the nation to rent a home. This is not a coincidence. Our economy cannot thrive when people cannot afford to live here. Gov. Murphy and legislators can turn things around by using the Fund as intended and make the investment that helps make NJ a more affordable place we can all call home.”

To view the letter, visit https://tinyurl.com/preserveahtf.

About the Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 250 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities. For more information on the Network, visit www.hcdnnj.org.

For more information: Nina Arce
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(609) 789-7900
Website: hcdnnj.org
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