Housing built before April 1, 1980 can now count toward a municipality's affordable housing obligation.

New Jersey A877 allows housing constructed before April 1, 1980 to be counted toward a municipality's affordable housing obligation. This applies to housing reserved for low- or moderate-income occupancy for at least 20 years or those that are rehabilitated. The bill also establishes the New Jersey Affordable Housing Trust Fund to support these efforts, including funding for rehabilitation and other housing programs. The fund will be audited annually, and the Department of Community Affairs will report on its activities.

Housing built before April 1, 1980 can now count toward a municipality's affordable housing obligation.

New Jersey A877 allows housing constructed before April 1, 1980 to be counted toward a municipality's affordable housing obligation. This applies to housing reserved for low- or moderate-income occupancy for at least 20 years or those that are rehabilitated. The bill also establishes the New Jersey Affordable Housing Trust Fund to support these efforts, including funding for rehabilitation and other housing programs. The fund will be audited annually, and the Department of Community Affairs will report on its activities.