Court Halts $200M Trust Fund Raid

Funds now available for working families
People with special needs, and seniors

NetworklogoOn April 9, 2015, the Appellate Division of the NJ Superior Court ruled that the attempt to use the municipal housing trust funds in the State’s General Fund is unlawful.

The funds that have been protected from seizure will be available for their intended purpose, to help build homes for lower-income families, people with disabilities, and seniors on a fixed income.

“Everyone should have the opportunity to live in a great community, in a home they can afford and each dollar is an investment in the future of our communities and our residents. The municipal housing trust funds are essential funding mechanisms for that purpose.”

“These trust funds are intended to help people who need homes and jobs in our state. We commend the Court for making this ruling and ensuring that dollars raised locally, stay local. NJ residents need and want affordable homes and today’s ruling allows communities to meet those needs.”

Said Housing and Community Development Network of New Jersey (the Network) Vice-President and Chief Operating Officer Sharon Barker.

The appeal was filed by Fair Share Housing Center (FSHC), the Appellate Division of the Superior Court and has blocked the Christie Administration’s efforts to take housing trust funds. As a result, not a single dollar of housing trust funds will be lost. The attempt to raid the trust funds and place them in the state’s general fund began in July 2012.

“Towns and non-profits throughout the state can now move ahead with plans to build homes we need. Thousands of homes will be built and rehabilitated using these funds. Waitresses in New Jersey’s diners, people who work in malls, daycare teachers, and people who need supportive housing can all breathe easier because money used to help make homes more affordable won’t be taken.”

Said Kevin D. Walsh, the attorney who argued the appeal for FSHC.

Click here for a statement from the Network.

Click here to learn more about the ruling from FSHC.

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