New Jersey A2964 revises the calculation for low and moderate income housing needs and allows for senior citizen housing.

New Jersey A2964 amends the "Local Redevelopment and Housing Law" to change how municipalities calculate the need for low and moderate income housing units. The calculation will now be based on the current percentage of units occupied by low and moderate income individuals or families. The bill also allows for up to 60 percent of low and moderate income housing stock in a municipality to be occupied by senior citizen households. Additionally, it revises the law to encourage the development of communities that meet the needs of low and moderate income senior citizens.

New Jersey A2964 revises the calculation for low and moderate income housing needs and allows for senior citizen housing.

New Jersey A2964 amends the "Local Redevelopment and Housing Law" to change how municipalities calculate the need for low and moderate income housing units. The calculation will now be based on the current percentage of units occupied by low and moderate income individuals or families. The bill also allows for up to 60 percent of low and moderate income housing stock in a municipality to be occupied by senior citizen households. Additionally, it revises the law to encourage the development of communities that meet the needs of low and moderate income senior citizens.