Trust Funds Released by State Will Provide Homes

Families, Seniors, People with Special Needs to Benefit

Trust Funds Released by State Will Provide HomesIn a meeting held on August 26, 2014, the Council on Affordable Housing (COAH) released housing trust funds totaling $14 million and held by the held by following 13 municipalities:

  • Cherry Hill,
  • Manasquan,
  • Long Hill,
  • Tinton Falls,
  • Gloucester City,
  • Florence,
  • Randolph,
  • North Caldwell,
  • Summit,
  • Lawrence,
  • Mendham,
  • South Brunswick, and
  • Clifton.

“This is a good start that will result in homes in 13 municipalities being available to lower-income families, seniors, and people with special needs. Throughout the state, there will be new homes, and existing homes will be improved. We are pleased to see that the state has started this process and look forward to this moving forward so that money needed to build homes for lower-income New Jerseyans is available.”

Said Kevin D. Walsh, Associate Director of Fair Share Housing Center.

The release of the funds will support the construction and rehabilitation of homes throughout the state. Releasing these funds begins a process that the Fair Share Housing Center anticipates will result in a substantial majority of over $160 million that was once at risk being approved for use by municipalities and non-profit organizations.

Click here for more details from the Fair Share Housing Center.