Bill > A5870

This bill facilitates the construction and rehabilitation of affordable housing built in part through sweat equity by the eventual occupant. It establishes a process for the Commissioner of Community Affairs to certify certain nonprofit organizations as "sweat equity certified nonprofits" based on specific criteria. If such a nonprofit facilitates the construction or rehabilitation of a low- or moderate-income dwelling unit using sweat equity, the bill provides exemptions from certain affordable housing requirements, and directs state agencies to provide expedited assistance to these nonprofits and municipalities. The bill also makes related changes to the definition of "sweat equity" and "sweat equity certified nonprofit" in existing affordable housing laws.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/A5870