Gov’s Budget Plans to Recapture Housing Funds Need Scrutiny
DCA Commissioner to Testify at Assembly Budget Hearing


Department of Community Affairs Acting Commissioner Richard Constable III will testify today before the Assembly Budget Committee at a hearing on the Department’s portion of Governor Christie's FY 2013 budget.  In regards to proposed plans for housing funds, Housing and Community Development Network of New Jersey Policy Coordinator Arnold Cohen issued the following statement:
"The governor has included $75 million from the federal foreclosure settlement and nearly $200 million from municipal housing trust funds as part of his budget.  These resources have very specific purposes.  We hope the Commissioner will provide a detailed explanation today about how the governor plans to spend those dollars.  New Jerseyans want to know how these funds will be used to balance New Jersey’s housing market and help families and communities devastated by foreclosures.    

"We look forward to hearing the Commissioner’s ideas and proposals for creating more homes New Jerseyans can afford.  For the last two years, this governor has taken funding from the statewide Affordable Housing Trust Fund to fill his budget, instead of producing homes that our residents and our economy need.  We hope the Commissioner will provide details for ways to help families reduce costs and for communities to provide more housing choices, especially for renters.   

"New Jersey is slowly recovering from the recession.  The state’s economy remains fragile. This is a critical time to make careful decisions that will support the recovery and position us for increased opportunity.  We look forward to hearing what investments the commissioner and the governor intend to make in New Jersey's economic future, starting with what is being done to help homeowners and tenants stay in their homes."

For more information:  Nina Arce
Housing & Community Development Network of NJ
(609) 393-3752 x12
[email protected]
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