157 Support More Homes More Jobs

Deadline to Sign Sandy
Thank You Letter is June 21

Congressman Bill PascrellNJ has continued to respond quickly and decisively in support of the thank you letter to the Original Co-sponsors of The Hurricane Sandy Tax Relief Act of 2013 (HR2137). The legislation will result in More Homes and More Jobs for NJ!

As of Wednesday June 19, 2013 at 5 PM 58% of the signers (157 out of 217) were NJ organizations. The deadline for signing is 5 PM Friday June 21st.  Click here to join this campaign today!

With a day and one-half left we need to focus on groups that have not signed. We strongly encourage you to review the list of signers and reach out to colleagues, allies and partners and ask them to join with you to sign the letter.

In addition, we need to increase support from:

  1. Elected and appointed officials including mayors, council members, freeholders and state legislators;
  2. Businesses including local chambers of commerce; and
  3. Builders, contractors, architects and attorneys.

Click here to sign the letter.

Click here to view the list of signers.

Click here to read the letter.

Click here to read HR2137.

Let them know that this legislation would provide an increased disaster allocation of Low-Income Housing Tax Credits (LIHTC) by increasing the per capita rate to $8, provide $250 million in New Markets Tax Credits (NMTC) and provide tax-exempt bonds for Sandy-impacted areas.

For example, the LIHTC in NJ has since 1986 created:

  • 45,149 affordable apartments and
  • 52,373 jobs
  • $4.0 billion of local income
  • $388.3 million in state and local revenue and
  • $1.1 billion in federal revenue.

Thus, the increase to $8 per capita will create More Homes and More Jobs and strengthen the economy.

Representative Bill Pascrell along with Congressmen Frank LoBiondo and Rodney Frelinghuysen and eight other members of the NJ delegation sponsored HR2137.

The Housing and Community Development Network of NJ, Monarch Housing Associates along with other partners in NJ, NY and CT have prepared a letter thanking our legislators for introducing the legislation and encouraging its quick passage. Signing the letter will pledge your organization’s support to work with Congress to have the legislation enacted.

Please sign your organization on to this letter!