NJ Housing Advocates Applaud Gov. Murphy’s Budget to Build a Thriving New Jersey; Affordable Housing Trust Fund Restoration Continued in Proposed FY2021 Budget

February 25, 2020

The Housing and Community Development Network of New Jersey (the Network) enthusiastically supports Gov. Phil Murphy’s promise to invest the state’s Affordable Housing Trust Fund (AHTF) in the creation of affordable homes and end the diversion of this fund. In his budget speech today, Gov. Murphy reiterated his commitment to spending the estimated $60 million in the AHTF as intended and to maintain last year’s increase to the Neighborhood Revitalization Tax Credit (NRTC).

On the budget address, Network President and CEO Staci Berger issued the following statement:
“Gov. Murphy is being true to his word, and investing the Affordable Housing Trust Fund to create the homes New Jersey’s residents and economy need. NJ remains number one is the foreclosure crisis and is the sixth most expensive place to rent a two bedroom apartment in the country. In order for our economy to be stronger and fairer to all, everyone must have an affordable, safe place to call home. We applaud the Governor and his Administration for delivering on the promise to provide critical resources to help to make sure we can address the housing needs of all of our residents. We look forward to working the Murphy Administration, Senate President Sweeney, Assembly Speaker Coughlin and the entire Legislature to adopt a budget that includes full funding of the Trust Fund so our communities and neighbors can thrive.”

About the Housing and Community Development Network of NJ: The Network 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: Matthew Hersh
(609)393-3752 x 2100
Facebook/Twitter/Instagram: @hcdnnj