Affordable housing overhaul passes Assembly - NJBIZ

Feb 13, 2024 · Assembly Bill 2390 – Requires municipalities in compliance with affordable housing obligations be provided priority considering for certain state grants and assistance. …

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Will New Jersey's affordable housing system be overhauled?

Legislation to overhaul New Jersey's affordable housing system advanced in the Assembly's housing committee Jan. 29, 2024. (Dana DiFilippo | New Jersey Monitor) A bill that would overhaul New Jersey’s affordable housing system cleared another hurdle Monday when the Assembly’s housing committee advanced it along party lines. ...

Will New Jersey's affordable housing bill be the next step?

Lopez said she believes this will mark the next step in addressing overall affordability in New Jersey. “Creating affordable housing is integral to the well-being and longevity of our residents,” said Lopez. “This bill offers a clear and comprehensive pathway toward meeting our shared housing goals.” ...

What does Murphy's Affordable Housing Act mean for New Jersey?

TRENTON, NJ – Governor Phil Murphy today signed landmark affordable housing legislation to support towns in meeting their affordable housing obligations, building on his administration’s promise to create a stronger, fairer, and more affordable state for all New Jerseyans. ...

What is the New Jersey Affordable Housing Act?

The primary bill, A-4/S-50 (Lopez, Coughlin, Wimberly, Reynolds-Jackson/Singleton, Scutari, Ruiz), establishes a new, streamlined framework for determining and enforcing municipalities’ affordable housing obligations under the New Jersey Supreme Court’s Mount Laurel doctrine and the State’s Fair Housing Act. ...

What would a new affordable housing bill entail?

The bill would set requirements for the kinds of affordable housing municipalities would have to permit. For instance, about half of all homes would have to be suitable for families with children, and 13% would be available to people with very low incomes. ...

Will New Jersey retool affordable housing regulations?

(Fran Baltzer for New Jersey Monitor) New Jersey lawmakers unveiled legislation to retool the regulations governing the construction of affordable housing in the closing days of the Legislature’s lame-duck session, just months before towns and cities face the fourth round of their affordable housing obligations. ...