Deadline to Sign Letter to Preserve Affordable Housing Trust Fund is Today: Communities and Residents Across NJ Need Funding to Create Homes We Can Afford
New Jersey’s Affordable Housing Trust Fund (AHTF, formerly Balanced Housing) is a valuable resource for our state. Communities and residents across our state need this fund to create homes we can afford.
Our state is number one in foreclosures, at the top for millennials still living at home and the seventh most expensive place in the nation to rent a home. New Jersey needs these funds to solve this crisis.
After a thorough review of Gov. Murphy’s proposed state budget, the Housing and Community Development Network of New Jersey reports that it was surprised to learn that the state budget continues the practice of diverting funds that are legally dedicated to creating much needed affordable homes. We need to address our housing crisis head on. As the governor has said, “every New Jerseyan should have access to a safe, affordable home.”
Together, we can reach that goal. Join the Housing and Community Development Network of New Jersey and sign the letter to make sure the state’s next budget invests in our future and builds our economy so that everyone can afford to call NJ home.
You can help protect the Affordable Housing Trust Fund by endorsing the Housing and Community Development Network of New Jersey’s letter to Gov. Murphy and NJ legislators. Monarch Housing Associates is proud to have signed on to the letter.
According to the National Low Income Housing Coalition (NLIHC), in 2016, a family in New Jersey must earn a housing wage of $27.31/hour to rent a two-bedroom apartment and the Fair Market Rent for a two-bedroom apartment in is $1,420/month. The State of New Jersey has the opportunity to support the creation of new affordable housing across the state through the enforcement of the Council of Affordable Housing (COAH.)
There is a growing national effort to increase funding for affordable homes. The National Low Income Housing Coalition launched the Opportunity Starts at Home campaign to advance efforts at the federal level.