Bill > A3402

This bill would allow municipalities to obtain bonus credits toward their fair share affordable housing obligations for transitional housing reserved for certain low or moderate-income veterans with active service in time of war. Specifically, the bill would grant one unit of credit and one-half bonus credit for each unit of transitional housing occupied or reserved for these veterans, regardless of any limitation on the percentage of a municipality's fair share obligation that may be satisfied through bonus credits. The bill defines "transitional housing" as housing with supportive services that help individuals and families who are homeless or lack stable housing to move to permanent housing within a fixed timeframe, generally up to 24 months, and requires such housing to be subject to affordability controls for at least 10 years.