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N.J. Housing and Mortgage Finance Agency sells $40M in state tax credits to fund affordable housing

Source: ROI-NJ · Jul 27, 2026, 11:24 AM

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N.J. Housing and Mortgage Finance Agency sells $40M in state tax credits to fund affordable housing news image

The New Jersey Housing and Mortgage Finance Agency announced the sale of $40 million in state tax credits to multiple corporations to support affordable and workforce housing development.

The initiative aims to expand the state's housing supply and address the ongoing affordability crisis affecting New Jersey families.

Key points

  • NJHMFA sold $40 million in state tax credits to fund affordable housing projects
  • The program targets both affordable and workforce housing development
  • This sale increases the agency's capacity to address housing affordability challenges
  • Tax credit sales generate revenue for expanding housing supply in New Jersey

FAQ

What did the NJHMFA announce in July?
The New Jersey Housing and Mortgage Finance Agency announced the sale of $40 million in state tax credits to corporations for affordable and workforce housing development purposes.
How does this tax credit program help address housing issues?
By selling tax credits to corporations, the program raises funds that enable NJHMFA to increase the supply of affordable housing available to New Jersey families facing affordability challenges.

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