Assemblywoman BRITNEE N. TIMBERLAKE
District 34 (Essex and Passaic)
Assemblywoman VERLINA REYNOLDS-JACKSON
District 15 (Hunterdon and Mercer)
Assemblywoman SHAVONDA E. SUMTER
District 35 (Bergen and Passaic)
Assemblymen Caputo, Giblin, Assemblywomen Speight, McKnight and Assemblyman Wimberly
Requires developers of residential housing to provide low and moderate income housing or pay fee.
CURRENT VERSION OF TEXT
An Act concerning affordable housing and supplementing P.L.1985, c.222 (C.52:27D-301 et al.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Notwithstanding any other provision of law, rule, or regulation to the contrary, the developer of a project involving 20 or more newly-constructed residential units shall reserve at least 20 percent of the residential units for occupancy by low or moderate income households. The developer of a project involving 20 or more newly-constructed units may develop the residential units reserved for low and moderate income households, offsite within the municipality in which development is taking place, in order to satisfy the obligation established by this section.
b. Any municipal approval or agreement entered into between a municipality and a developer, concerning the development of 20 or more newly-constructed residential units shall incorporate contractual guarantees and procedures ensuring that any unit of housing provided for low and moderate income housing shall continue to be occupied by low and moderate income households for at least 98 years.
c. A municipality that is authorized to impose and collect development fees from developers of residential property pursuant to section 8 of P.L.2008, c.46 (C.52:27D-329.2), or to impose and collect payments in lieu of constructing affordable units pursuant to section 9 of P.L.2006, c.46 (C.52:27D-329.3) may allow a developer to pay a development fee or donate an amount equal to 30 percent of the cost of the proposed development as determined by the municipal engineer, in lieu of constructing low or moderate income units as required by subsection a. this section. A municipality shall deposit all fees, payments, and donations collected pursuant to this section into a housing trust fund and spend those funds on activities approved to develop affordable rental and for sale housing throughout the municipality.
2. The New Jersey Housing and Mortgage Finance Agency shall revise the requirements and controls it has established to ensure the maintenance of housing as affordable to low and moderate income households, commonly referred to as the Uniform Housing Affordability Controls, to implement the requirements set forth in this act.
3. Section 1 of this act
shall take effect on the first day of the fourth month next following
enactment, and section 2 shall take effect immediately.
This bill would require all new residential development consisting of 20 or more units to reserve at least 20 percent of the units for low or moderate income housing for at least 98 years. A developer may choose to develop the required affordable housing either onsite or offsite. A municipality authorized to impose affordable housing development fees or payments in lieu of constructing affordable housing, may allow a developer to pay a fee or donate an amount equal to 30 percent of the cost of the proposed development instead of constructing low or moderate income housing. In this instance, the municipality must spend the amounts collected on activities approved to develop affordable rental and for sale housing throughout the municipality. The bill also directs the Housing and Mortgage Finance Agency to revise the requirements and controls it has established to ensure the maintenance of housing as affordable to low and moderate income households to be consistent with the bills requirements.