URGENT: Restore the Affordable Housing Trust Fund
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In June, state leaders diverted $125 million from New Jersey’s Affordable Housing Trust Fund (AHTF)—a critical resource meant to build homes for working families, seniors, veterans, and people with special needs. Without urgent action, hundreds of affordable home developments will be stalled or canceled in communities across the state.
At the same time, the newly expanded mansion tax is expected to generate more than $300 million annually, but none of that revenue is currently being used to support affordable housing. That’s not just disappointing, it’s a missed opportunity to address our growing housing crisis.
In August, the NJ Department of Community Affairs announced the restoration of $35 million to the Affordable Housing Trust Fund, with an additional $10 million made available for Habitat for Humanity projects. We consider this a downpayment on a full restoration of the Affordable Housing Trust Fund, including the other $80 million taken from the Fund in the latest state budget.
We’re calling on the Governor and Legislature to FULLY restore the Affordable Housing Trust Fund and dedicate at least half of the mansion tax revenue—around $150 million a year—to affordable housing production. But we need your voice NOW to make that happen.
Letter Campaign by
Housing and Community Development Network
Sponsored by
Trenton, NJ