The Hudson County Board of Commissioners voted 8-0(1) to adopt an ordinance authorizing a $140 million and interest of county bonds to support construction of affordable housing at Canal Crossing in Jersey City.
The County-Guaranteed Multifamily Housing Revenue Bonds will be issued by the Hudson County Improvement Authority (HCIA) as part of the county’s plan to construct additional affordable housing units countywide.
The commissioners held a public hearing and adopted the ordinance on Thursday, shortly after Hudson County Executive Craig Guy addressed the board on the matter.
“Since taking office, I’ve demonstrated my commitment to addressing the affordable housing crisis in Hudson County,” he stated…