(TRENTON) – Assembly Speaker Pro Tempore Jerry Green will testify Friday at a hearing chaired by U.S. Sen. Robert Menendez (D-N.J.) on the effects of foreclosures on New Jersey neighborhoods and what steps can be taken to address the problem.
The hearing is set for 11 a.m. Friday, Feb. 10 at the Black United Fund Health and Human Services building at 403 W. 7 th St. in Plainfield.
Green (D-Union/Middlesex/Somerset) chairs the Assembly Housing and Local Government Committee and has been considering ways to better handle foreclosed residential properties and improve affordable housing.
“The residential mortgage foreclosure crisis has caused numerous problems for families and communities,” Green said. “When numerous properties in a neighborhood remain vacant for a prolonged period, we have a heightened risk of the neighborhood becoming blighted and that in turn makes it difficult to reinvigorate our economy. We need to find creative ways to combine the glut of vacant foreclosed homes and historically low interest rates to address one of the most intractable New Jersey problems - the creation and preservation of affordable housing.”
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