Authorizes COAH to credit municipalities with 1.5 units of fair share affordable housing obligation for each housing unit occupied by a veteran; permits municipalities to satisfy fair share affordable housing obligation through 35 percent set aside for veterans.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill amends New Jersey’s affordable housing regulations to provide municipalities with credits toward their fair share obligations. Specifically, it allows the Council on Affordable Housing (COAH) to credit municipalities with 1.5 units for each housing unit occupied by a veteran. Furthermore, municipalities can satisfy their fair share obligations by setting aside 35 percent of new affordable housing units for veterans who served in times of war. This aims to incentivize the provision of affordable housing for veterans within New Jersey.
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