NJSLOM conference attendees to see message on AC Expressway

Atlantic City, NJ – The Housing and Community Development Network of NJ, the statewide association of community developers and housing advocates (“the Network”), announced today that its members have taken out another billboard in the public campaign to fully restore the NJ Affordable Housing Trust Fund (AHTF). The billboard, which is visible to motorists traveling to the NJ League of Municipalities Conference this week, reads: “Tell Gov. Murphy & NJ Legislators: Fully Fund The Affordable Housing Trust Fund!” and directs people to HouseNJ.org, where they can take action on this issue.

The AHTF is the state’s only dedicated funding source for nonprofit community developers to build affordable homes for low-income and moderate-income neighbors. Governor Murphy and the State Legislature raided the AHTF in the fiscal year 2026 budget, diverting $125 million from the fund. The action left municipalities and community developers without funding despite the dire need to build homes across the state, and especially in towns with fair share housing responsibilities. In response, the Network initiated an advocacy campaign to restore these funds and in August, the state announced that $45 million would be restored. Advocates hailed the decision as a “downpayment” which provided $10 million to Habitat for Humanity projects, and $35 million for other nonprofit developers to build affordable homes.

“We appreciate that the Murphy Administration made a downpayment to help correct this situation. Now, they need to fully fix their mistake and completely restore the AHTF. NJ communities and families need and deserve the remaining $80 million that was diverted. NJ cannot become more affordable unless we make housing more affordable,” said Staci Berger, Network president and chief executive officer. “The AHTF is a critical funding source that our members need to continue to create and preserve affordable homes. Now more than ever, we need to build homes for our neighbors.”

“Rents are skyrocketing, and the shortage of affordable homes leaves too many families behind,” said Matthew Hersh, vice president of policy and advocacy for the Network. “Our members have worked hard to make our communities more affordable, and much of that success is a result of funding from the AHTF. We need Gov. Murphy and the Legislature to work together on ensuring there are no diversions in this year’s budget, as well as ensuring the fund’s future solvency by dedicating a portion of the increased mansion tax to the AHTF.”

Advocates have long sought a long-term, stable funding stream for the AHTF in order to meet the state’s growing demand for affordable homes. Previously, the sale of private residential real estate in excess of $1 million came with a 1% realty transfer fee charged to the buyer. Now, a tiered system increases the fee to 2% for sales in excess of $2 million, with half percent increases for each additional half million. The Network is advocating for the state government to set aside a portion of that additional revenue for the AHTF, so that the sales of luxury residences directly funds the creation of affordable homes in our communities.

“Everyone agrees that affordability is a major issue in New Jersey,” added Berger. “Meeting the needs of our lowest income neighbors is going to be a fundamental part of making our neighborhoods affordable and safe. Gov. Murphy and the Legislature must finish the job and fully restore the AHTF with no diversions and dedicated funding stream to ensure the fund’s sustainability in the future. Housing is a human right, and our leaders need to invest in ensuring everyone can afford to call New Jersey home.”

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 270 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.

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