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HOUSING
Long-Term Cannabis Tax Revenue Fund for Housing and Entrepreneurship Equity
Community-led Land Banks and Community Land Trusts
SandSJ is advocating for the use of New Jersey’s cannabis tax revenue, which brings in $33 million a year, to create a long-term investment fund that would be exclusively allocated to affordable homeownership and entrepreneurial development in historically marginalized communities, directly addressing New Jersey’s racial wealth gap.
The fund would grow to a 5% yearly return and distribute money every 10 years over a total period of 30 years adding up to $2.19 billion.
SandSJ endorses community-led land banks and community land trusts as a tool to combat gentrification, prevent displacement, transition renters into homeowners, and build generational wealth in historically marginalized communities.