NJ Can't Take Affordable Housing Funds From Towns

Law360, New York (August 10, 2012, 8:40 PM EDT) -- A New Jersey appeals court on Friday ruled that the state Department of Community Affairs lacks the authority to seize unspent affordable housing funds from towns, and barred the state from its plan to use the funds to balance its budget.

In a divided opinion, the three-judge panel found that only the Council on Affordable Housing, an agency of gubernatorial appointees that oversees towns' expenditure of affordable housing funds, has the power to take some $200 million that has been collected from developers to help towns...
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