Yesterday new Affordable Housing Legislation was introduced into the State Legislature. Supporters indicate that this legislation would replace COAH and establish a more organized pathway for municipalities to meet affordable housing obligations.
Main Features of the legislation include:
-Mediation panels aimed to reduce litigation between municipalities and developers.
-Immunity for municipalities demonstrating a “good faith” effort in meeting their Affordable Housing obligation.
-Tax relief, Sweat Equity, and other Incentives to Accelerate Affordable Housing Development
Copy of the Bill
NJBiz.com and The NJ Monitor Have Good Coverage of the Legislation:
Legislation to rework affordable housing in NJ seeks to streamline process
New Jersey lawmakers plan overhaul of affordable housing system
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