Towns Need Clarification– Where Will ‘Affordable Housing’ Money Come From?

[Cranbury Conservative]

Estimated Cost: $28 Billion Over 10 Years With No Funding Plan

Senator Christopher “Kip” Bateman (R-District 16) is calling on Governor Jon Corzine and Joseph Doria, Commissioner of the Department of Community Affairs, to clarify how towns will finance over 100,000 newly required affordable housing units. The non-partisan Office of Legislative Services has estimated the cost to be $28 billion.

In a December 1, Star Ledger article Commissioner Doria is quoted as saying, “The (state) Fair Housing Act and the Department of Community Affairs have never said anybody has to use property taxes. It is not permitted. We never said that, and you’ll never see it in any documents.”

“However, ” Bateman noted, “references in the Department of Community Affairs regulations provide for the use of property taxes for affordable housing.” This includes NJAC 5:97-6.7(d)(6)(ii), which says, ‘In the case where an application for outside funding is pending, a stable source such as municipal bonding shall be provided in the event the funding request is not approved.’ In addition, there are references in the regulations requiring municipalities to bond or appropriate funds for shortfalls in housing programs.”

Bateman continued, “The December 31, 2008 deadline is fast approaching, yet confusion is the order of the day.”
Senator Bateman has joined with Senator Raymond Lesniak (D-20) in a bipartisan effort to delay the deadline by at least six months. “We hope Governor Corzine will sign an executive order implementing the delay in filing as soon as possible.”

Link to Post:
http://www.senatenj.com/index.php/bateman/bateman-towns-need-clarification-where-will-affordable-housing-money-come-from/1656