S 2960
Establishes certain State funding preferences for municipalities that enhance opportunities to develop housing.
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Bill overview
This bill establishes a program to incentivize New Jersey municipalities to update their land use plans and zoning regulations to encourage greater housing development. Municipalities that undertake a ‘special reexamination’ of their plans and regulations, and subsequently amend them to allow for increased housing density, may receive preferential consideration when applying for State financial assistance. The bill also directs the Department of Community Affairs to track and rank municipalities based on their housing development changes and to prioritize funding for those that have made significant progress.
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