State still expecting affordable housing money for general fund

TRENTON – Despite being tied up in litigation and surrounded by a cloud of uncertainty over the exact amount of funds available, the state is still banking on receiving $166 million in unused affordable housing dollars.

Treasurer Andrew Sidamon-Eristoff told Senate lawmakers the governor’s budget continues to rely on receiving the affordable housing dollars.

“That’s what we have budgeted,” responded Sidamon-Eristoff today when asked to confirm by Senate Budget and Appropriations Chairman Paul Sarlo (D-36) whether the administration is still banking on the $166 million.

“I can’t speak to what will happen with that litigation, but it remains our expectation that we will get those funds,” Sidamon-Eristoff said.

Currently, the money is tied up in the courts as municipal governments fight the administration on Gov. Chris Christie’s plan to sweep the funds as part of a “use it or lose it” rule put in place by Christie’s predecessor.

Sidamon-Eristoff’s comments come after the Office of Legislative Services’ budget officer, David Rosen, warned lawmakers there seemed to be some uncertainty over the exact amount of unused dollars.

“Department of Community Affairs said that the actual amount would not be known until after the municipalities present information to the Council on Affordable Housing on May 22,” and then, he said, ‘‘Maybe it will not be $164 million, maybe it’s $100 million, maybe it’s $60 million, maybe it’s $50 million,’” Rosen said earlier Monday during his testimony.

 

State still expecting affordable housing money for general fund