COAH issues affordable housing funding guide
Public and private sources of funding are listed

TRENTON — An Affordable Housing Funding Source Guide is now available on the Council on Affordable Housing (COAH) Web site, N.J. Department of Community Affairs (DCA) Commissioner Joseph Doria announced.

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.

He continued, "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 that 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/affiliates/coah/resources/ planresources/fundguide.pdf.

COAH, an affiliate of the New Jersey Department of Community Affairs, was created to facilitate the production of 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, according to the DCA Web site.

"As this guide shows, municipalities have many ways to meet affordable housing requirements without raising taxes."