Bill > S619

This bill allows municipalities in New Jersey to establish an affordable housing preference for their residents. Specifically, it permits municipalities to enter into agreements with developers or residential development owners to provide up to 50% of the affordable units in a particular project to residents of the municipality. The preference is established in the applicant selection process, with municipal residents who apply within the first 90 days of the initial 120-day marketing period receiving priority. After the initial 90-day period, if any of the preference units remain available, applicants from the general public can be considered. The bill aims to help municipalities meet their fair share of low and moderate-income housing obligations while also providing housing opportunities for their own residents.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/S619