TRENTON – Following Governor Mikie Sherrill’s presentation of the State Budget for Fiscal Year 2027, Housing and Community Development Network of New Jersey’s (the Network) Vice President of Policy and Advocacy Matthew Hersh issued the following statement:

“Governor Sherrill’s commitment to building more affordable homes is a welcome step in the right direction. However, with a shortage of more than 200,000 affordable homes in New Jersey, it is critical that the Affordable Housing Trust Fund be protected and used for its legally intended purpose: producing and rehabilitating homes for low- and moderate-income residents.

“We appreciate Governor Sherrill’s campaign promise not to divert the Affordable Housing Trust Fund and hope to see that commitment reflected in the proposed budget, which we look forward to reviewing in detail. We will also examine the Governor’s proposal for our shared budget priorities, including other housing investments, economic development and fair tax policies.

“Fully funding the Trust Fund and directing the state’s new mansion tax toward affordable housing production, which is pending in legislation, are essential steps to making New Jersey more affordable for the families who call our state home. Additionally, we are urging the Legislature to increase funding for the Neighborhood Revitalization Tax Credit, which was advanced in the Senate last week.

“At a time when far too many New Jersey residents are struggling to find safe, stable, and affordable housing, strong leadership and meaningful investment are essential. The Network and our partners look forward to working with the administration and legislative leaders to fulfill that promise and to HouseNJ.”

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.