The initiative is designed to increase the supply of housing by attracting private investment to affordable and workforce housing projects across New Jersey. “These tax credits help turn private investment into housing that will help families, seniors and essential workers put down roots across our state. Half of the auction proceeds will help municipalities meet affordable housing obligations, while the remaining half will fund workforce housing for middle-income families. All projects will also utilize federal 4% Low-Income Housing Tax Credits administered by NJHMFA. NJHMFA plans to continue holding state tax credit auctions through 2030.