TRENTON, NJ – October 28, 2008 – (RealEstateRama) — Department of Community Affairs (DCA) Commissioner Joseph Doria today announced that an Affordable Housing Funding Source Guide will now be available on the Council on Affordable Housing (COAH) website. The Guide, assembled by COAH, outlines available public and private affordable housing funding sources.
“This guide will be a helpful resource for local officials looking to provide their residents with the affordable housing they need and deserve,” said Commissioner Doria. “It also helps dispel the myth that affordable housing leads to increased taxes. As this guide shows, municipalities have many ways to meet affordable housing requirements without raising property taxes.”
The Affordable Housing Funding Source Guide lists approximately 70 different funding programs. Each program highlighted includes a brief description and a reference resource where the reader may find more information. To illustrate the amount of potential funding available to New Jersey entities, COAH has included a matrix which tallies all of the resources. The programs highlighted have the potential to provide over $848 million in funds for the production of affordable housing. The Guide is located at:http://www.nj.gov/dca/coah/round3resources.shtml.
COAH, an affiliate of the New Jersey Department of Community Affairs, facilitates the production of sound, affordable housing for low and moderate income households by providing the most effective process to municipalities, housing providers, nonprofit and for profit developers to address a constitutional obligation within the framework of sound, comprehensive planning.
