Murphy Proposes New Affordable Housing Fund. It’s Long Overdue, Advocates Say

March 9, 2022 | njspotlightnews.org

As affordability continues to be the buzzword in Trenton, Gov. Phil Murphy’s budget included a proposal to use more than $300 million in federal American Rescue Plan money to create the Affordable Housing Protection Fund, which would be used to help finance the building of over 3,000 housing units by the end of Murphy’s second term in 2025.

NJ SEED: The governor’s proposal for an Affordable Housing Fund will incentivize already planned projects and provide jobs for the home building industry.