Jersey City council reviews Affordable Housing Trust Fund spending plan and related mortgage actions

The Jersey City Municipal Council reviewed a draft spending plan for the city—9s Affordable Housing Trust Fund and heard related housing items during the April caucus meeting.

The spending plan proposed that roughly half of the trust fund be devoted to rehabilitation of existing units, about 30% be reserved for affordability assistance (including emergency rental assistance, emergency health and safety repairs, down-payment assistance and buy-downs to deeper affordability), and up to 20% be used for administrative costs including right-to-counsel services, according to a staff presentation. The plan was described as a draft to be submitted to the court before money could be spent.

The proposal matters because the council adopted a development-fee ordinance in June 2022 that established the dedicated revenue stream; that ordinance was approved by the Superior Court in January 2024 and the court remains part of the spending-plan review process. The staff member presenting the plan…