N.J. towns acting fast to spend funds as affordable-housing deadline nears

Municipalities have been scrambling to submit affordable-housing spending plans to the state to avoid the loss of up to $200 million intended to finance local projects.  With Tuesday’s state deadline looming for communities to commit their funds, some like Cherry Hill and Evesham adopted plans last week and sent them to the state Council on Affordable Housing for approval. Meanwhile, the Fair Share Housing Center of Cherry Hill argued before an appellate court Friday, asserting the state could not seize money set aside in trust funds for affordable housing. The New Jersey State League of Municipalities joined in the appeal, which sought — but failed to obtain — an injunction to block the money’s confiscation. Gov. Chris Christie has said he intends to seize $200 million based on a state law that allows all funds not committed within four years to revert to COAH. Christie plans to use the money in the state budget.

Courier Post

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