Protect the Affordable Housing Trust Fund

The proposed FY2022 budget has some very important housing investments that help address New Jersey’s racial and economic disparities, including increased funding for emergency Code Blue resources, rental assistance for new moms and support for LGBTQ folks experiencing housing insecurity. We enthusiastically endorse these proposals in the budget. However, we oppose diverting $57 million from the Affordable Housing Trust Fund and moving funds intended to create affordable homes for lower-income New Jerseyans to other programs that benefit middle-income residents. We also have deep concerns about funding levels for the State Rental Assistance Program. 

Read the Network's Budget Testimony Submitted to the Legislature Here

At Issue:

  • The demand in NJ’s communities is to generate more affordable homes for lower income residents; NJ should direct public investment to meet this critical need.

  • The demand in NJ’s communities is to generate more affordable homes for lower income residents; this far outweighs the need to use funds for middle-income families.

We share Gov. Murphy’s goal of increasing homeownership and housing stability for all New Jerseyans, and especially to address the racial wealth gap. These important goals can be achieved without diverting resources from the Affordable Housing Trust Fund. Community Reinvestment Act mortgage products for first-time homeowners often include down payment assistance and other options that make homeownership more affordable for lower income residents and in lower income neighborhoods, click here for more information.

This proposal to raid the AHTF means gutting the Fair Housing Act’s intent to serve lower income residents and risking increased gentrification without actually building a single new affordable home in the Garden State. There are much better choices for these funds to be used to achieve similar goals.

TAKE ACTION

After a decade of disinvestment, the Trust Fund is poised to reach our Build a Thriving NJ campaign goal of $125 million. Our members are finally able to access these funds to produce quality, affordable home ownership and rental housing choices. We can't allow the fund to be raided!

The budget should keep all the AHTF funds in the AHTF, and reserve them to be used for innovative opportunities to create a variety of homes for people and 79 percent of NJ residents agree. You can help put our state on a better path for housing justice by:

  1. Join us for a Virtual Rally to Protect the Affordable Housing Trust Fund on May 7

  2. Sign up for our annual NJ Legislative Day on June 2

  3. Letting us know about your plans to submit to the AHTF

  4. Be part of your area Advocacy Team to communicate with your legislators


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