Housing advocates today urged the members of the New Jersey Assembly Budget Committee to reject a proposal in the state budget that diverts a portion of the Affordable Housing Trust Fund (AHTF) away from serving vulnerable residents as intended. In testimony presented to the members of the committee, Housing and Community Development Network of New Jersey’s (the Network) President and Chief Executive Officer Staci Berger said:

“The proposed FY2022 budget has some very important housing investments that help address New Jersey’s racial and economic disparities that we strongly support. However, we oppose diverting $42 million from the Affordable Housing Trust Fund and moving funds legally intended to create affordable homes for lower-income New Jerseyans to other programs that benefit middle-income residents. NJ had closed the page on a decade of treating the Affordable Housing Trust Fund like a slush fund. Don’t write a sequel to that horror story now.

“All of the data before and during the pandemic shows that low-income Black and brown residents have the most pressing housing needs, and have borne the brunt of COVID-19’s impact. The Legislature adopted the Fair Housing Act and created the AHTF as one mechanism to address these needs by increasing the supply of affordable homes. Taking these funds away now, means that communities trying to meet their fair housing obligations may lose tens of millions of dollars that can support those efforts.

“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 Funds. We look forward to working with Governor Murphy, Lt. Governor Oliver, and the Legislature to preserve these funds to build a thriving New Jersey that everyone can afford to call home.”

To read the Network’s testimony in its entirety, please visit tinyurl.com/fy2022budgettestimony

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.