Senator Christopher “Kip” Bateman, sponsor of Senate Bill 2292 to reform unworkable “affordable” housing regulations, announced that the non-partisan Office of Legislative Services estimates the annual unfunded cost to communities of complying with these rules will be as much as a $2 billion.
“Republicans have said repeatedly that the COAH rules are a burden that our property taxpayers will find impossible to bear. We just didn’t know how much that burden would be,” Senator Bateman said. “The incredible estimate from OLS is that communities will be forced to come up with another $2 billion every year for the next 10 years. This is a crushing burden on towns already reeling from the economic downturn. The costs could be somewhat lower or even much higher than the estimate. Clearly, to towns now facing likely cuts in municipal aid, it doesn’t matter. They simply can’t afford this unfunded mandate.”
Senator Bateman asked for bipartisan support of following steps:
Urge Governor Corzine to issue an executive order imposing a six-month delay in the implementation of the new rules. That will give legislators time to craft a realistic plan for affordable housing, and find a responsible way to fund it in a state that has a weak economy and the highest property taxes in the nation.
Ask the Council on Local Mandates to declare that the new COAH rules are an unconstitutional unfunded mandate on our counties, school systems and communities.
Support immediate passage of S-2292, a bill that would create a common-sense affordable housing program that will improve the lives of everyone in the state, not make New Jersey a less affordable and more difficult place to live.
A copy of the OLS memo estimating COAH costs is attached.
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