The embattled state Council on Affordable Housing held its first meeting in two years Wednesday and voted to let the Christie administration take back $140 million that towns had set aside for affordable housing projects.

The regulatory agency had been forced into limbo by Gov. Chris Christie's attempt to dismantle it, and failing that, to name a political appointee to control housing policies.

At a highly argumentative meeting, as reported in The Record, the council decided to let the governor take the money, needed to help balance the budget for the fiscal year ending June 30. Town officials and affordable housing advocates said that the funds are badly needed to help build housing post-Hurricane Sandy.

One community, Middle Township, has filed an emergency legal action against the state, contending that a development of 150 apartments would be jeopardized without the COAH allocation.

The Christie administration's position is that towns moved too slowly to use the housing project money and now it should revert to the state for urgent purposes.

.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.