NJ Housing and Community Development Association applauds President Biden’s housing initiative and urges Garden State officials to HouseNJ

TRENTON — The New Jersey Association of Nonprofit Community Development Organizations applauded the Biden administration’s plan to cut housing costs announced this morning. The Housing Supply Action Plan incorporates actions included in the HouseNJ campaign of the NJ Housing and Community Development Network (the Network). During the announcement, Network President and CEO Staci Berger applauded the news from Washington, DC:

“We are thrilled that President Biden and his administration are taking a whole-of-government approach to ensuring everyone has a safe and affordable place to call home. Housing costs represent the largest portion of a household’s budget, and for far too many of our neighbors, affordable housing is out of reach. More and more Americans are falling behind on their mortgage or rent, while struggling to afford food and utilities. President Biden’s Housing Supply Action Plan invests in housing security and stability. It addresses the housing supply gap that is holding back our families and economic recovery.

“Our country’s housing crisis requires bold action. The Housing Supply Action Plan can help families on the brink of homelessness and will help HouseNJ. We urge state and federal authorities to maintain momentum by supporting transformative housing resources and investments in our communities.

The network’s HouseNJ campaign is calling on Congress to pass a budget reconciliation bill that includes housing investments passed in the U.S. House of Representatives last year. These include: $25 billion to extend housing assistance to approximately 300,000 households, shielding these households from the damaging effects of inflation and preventing housing instability and homelessness; $65 billion to preserve social housing for its 2.5 million inhabitants and future generations; and $15 billion in the National Housing Trust Fund to build or preserve more than 150,000 affordable, available, and accessible homes for those on the lowest incomes. The campaign is also calling on Governor Murphy and legislative leaders to invest $975 million from the US bailout in essential housing programs.

Several measures in the Housing Supply Action Plan advance HouseNJ’s agenda. The plan ensures that more of the supply of government-owned homes and other housing will go to homeowners who will live in them – or nonprofits who will rehabilitate them – and not to large institutional investors. A similar measure, the Community Wealth Preservation Program, is currently under consideration here in New Jersey.

About the NJ Housing and Community Development Network
The Housing and Community Development Network of New Jersey is the statewide association of more than 270 community development corporations, individuals and other organizations that support the creation of affordable housing, economic opportunity and strong communities. . For more information about the network, visit www.hcdnnj.org.

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Norma P. Rex