Housing Advocates Applaud FY2023 Budget as a Down Payment on Affordability, Urge Additional ARP and State Funds to HouseNJ


In remarks to the New Jersey Assembly Budget Committee in its first hearing on the proposed FY2023 budget, housing advocates cheered Governor Murphy’s proposed budget and called for additional funds to be deployed to meet NJ’s housing affordability crisis. Housing and Community Development Network of New Jersey’s (the Network) President and Chief Executive Officer Staci Berger provided testimony, which included the following highlights:

“We applaud the governor for making housing affordability a center piece of this budget proposal, and support efforts to invest in New Jersey’s communities so that the Garden State can be affordable to our most vulnerable and lower income residents. It will surprise no one that we are thrilled to see the Affordable Housing Trust Fund being used solely for its intended purpose: to create affordable homes.

“The Network also strongly supports Gov. Murphy’s proposal to invest more than $300M from New Jersey’s American Rescue Plan allocation to help create thousands of homes our residents need. By making that historic down payment on already approved municipal developments, this budget proposal helps restore balance to the marketplace.

“We have a chance to make transformational, once-in-a-lifetime investments that create housing stability and affordability, which has been a stated hallmark of our leadership in this new legislative session. To reach that goal, we urge our state and federal official to adopt the HouseNJ agenda. We ask that you fully deploy $975 million in ARP funds and state resources to meet NJ’s housing needs. On the federal level we must ensure that any reconciliation bill includes deep investments in affordable home production, rental assistance, and public housing. We ask you to join Sen. Nellie Pou and Asw. Britnee Timberlake in co-sponsoring a resolution calling on Congress to make those investments.

“On the state level, HouseNJ calls on the legislature to preserve and grow the Affordable Housing Trust Fund, increase funding for the Neighborhood Revitalization Tax Credit, expand rental assistance, eliminate childhood lead poisoning from paint, as well as close the racial wealth gap and create generational wealth by funding first-generation homeownership programs, especially for Black and Brown residents.”

To read the testimony in full, visit: tinyurl.com/fy2023njhousingbudget.

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 275 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 Rainiero
(609) 393-3752 x1200
Website: hcdnnj.org
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