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State demands towns turn over $161M in housing funds
State demands towns turn over $161M in housing funds
Nearly 400 New Jersey towns were told Tuesday that they have less than three weeks to hand over a total of more than $161 million in unspent affordable housing funds to the state.
Letters were sent to 372 towns asking officials to certify their account balances and write a check to the state’s Council on Affordable Housing by Aug. 13. The demand for cash follows a July 13 appellate court ruling that said the state could claim the unspent funds, so long as it gave each town sufficient notice and a chance to contest the transfer. Thirty-three towns in Bergen County and five in Passaic County have funds remaining, according to the state. (O’Brien, The Record)
http://www.northjersey.com/
