PolitickerNJ Wire Feed

By Eva Loayza | December 3rd, 2012 - 3:25pm
| More

Assembly Democrats News Release

Green Bill to Authorize HMFA to Buy Foreclosed Properties, Turn Them into Affordable Housing Gets Final Legislative OK

Measure comes amid growing concerns about the high rate of foreclosures in New Jersey despite millions in unspent federal foreclosure aid by the administration

(TRENTON) - Legislation sponsored by Assembly Speaker Pro Tempore Jerry Green (D- Middlesex/Somerset/Union) to create a temporary program that would allow the state to purchase foreclosed properties for use as affordable housing, while protecting municipalities from having to forfeit funds appropriated for affordable housing received final legislative approval Monday and now heads to the governor's desk.

"Housing in New Jersey is expensive. New Jersey consistently ranks as one of the most expensive states to live in. Not surprisingly, we also have some of the highest foreclosure rates in the country. With little regard from the administration, it will not get any better," said Green, who chairs the Assembly Housing and Local Government Committee. "We have a responsibility to ensure there are sufficient affordable housing options for our residents. Foreclosures bring down property values and are magnets for criminal activity. This bill attempts to kill two birds with one stone by taking these properties which can become real nuisances and transforming them into affordable housing."

The bill, named the "New Jersey Residential Foreclosure Transformation Act", would create the temporary New Jersey Foreclosure Transformation Program within the New Jersey Housing and Mortgage Finance Agency (HMFA) to buy foreclosed residential properties from institutional lenders for use as affordable housing. The HMFA would be required to cease the program on Dec. 31, 2017.

To read more, please visit the
www.assemblydems.com
NJ Assembly Dems on YouTube
NJ Assembly Dems on Vimeo
NJ Assembly Dems on Facebook
NJ Assembly Dems on Twitter
NJ Assembly Dems e-mail alerts

 

On the Net:
The Assembly Democratic Office Web site
NJ Assembly Dems on YouTube
NJ Assembly Dems on Vimeo
NJ Assembly Dems on Facebook
NJ Assembly Dems on Twitter
NJ Assembly Dems e-mail alerts

Contact Info: 

Contact Eva Loayza at (609) 847-3500

Wake-Up Call

Morning Digest: October 1st

Bergen County Freeholder forum mostly convivial, but at times confrontational TEANECK - The Bergen County freeholder forum on Tuesday night was a relatively collegial affair until the final two minutes on the 90-minute event. Republican freeholder candidate Robert Avery, flanked by fellow GOP freeholder candidate Bernadette Coghlan-Walsh, referred to...

Op-Ed

Legislation needed for publicly financed gubernatorial elections

By JEFF BRINDLE It is critical that the Legislature soon enact a pending bill that would ensure the state’s Gubernatorial Public Financing Program is available in the event of a special election for governor.  Not only is there no current legal... Read More >

Contributors

In tribute to John Sheridan, a good and great man     I first learned late last night from television news that John P. Sheridan, Jr. and his wife, Joyce had... more »
(9-24-14) The Founding Fathers and the Militarization of the Police - No matter what the grand jury in Ferguson, Missouri decides, the debate over the militarization of... more »
(Trenton, NJ) --  On September 23, 2015 I shall dig this up and eat whatever crow I've got coming, but in the meantime only a listicle... more »
 The following letter was sent today to Republican state legislators, county chairs, state committee members, and New Hampshire... more »

Quote of the Day

quote of the day

"I see Loretta Weinberg in the back of the room. Loretta, you have my eternal admiration for what you did to rid the Democratic Party of a certain political boss. However, not everyone shares that distinction." - Bergen County Republican Freeholder candidate Robert Avery

- PolitickerNJ

Poll

Which of these "Mount Rushmore of Corruption" states deserves the centerpiece?:

Blogroll

Visit the PolitickerNJ.com/resources page for links to the best collection of information on New Jersey state government.

 

  • Polls
  • The best blogs
  • Columnists
  • State election results
  • Assembly election results
  • Local party websites
  • And more.

PolitickerNJ.com/resources