Housing in New Jersey is not only unaffordable for low income residents, it’s often unaffordable for those earning above the state’s medium income as well. That’s why, in addition to legislation I sponsored to transform abandoned foreclosed homes through bundling and financing through the NJ Housing & Mortgage Finance Agency for occupancy by low and moderate income families, which was vetoed three times by Governor Christie despite support from realtors, bankers, the League Of Municipalities and not for profit and for profit housing developers, I will as Governor:
- Establish the Mortgage Foreclosure Transformation Act vetoed by Governor Christie three times.
- Provide $650 million tax credits for housing development in low and moderate income neighborhoods to rebuild inner city neighborhoods and establish housing that’s affordable for not only low but also moderate income families. The tax credits will pay for themselves and more so by stabilizing neighborhoods and attracting businesses deterred from moving to New Jersey because of our high cost of housing.
- Approve Tiny Homes legislation so seniors, empty nesters, homeless can have a safe, comfortable, and affordable place to live.