New Jersey S2656 requires developers to provide affordable housing or pay a fee.
New Jersey S2656 mandates that developers of residential housing projects with 30 or more units must either provide affordable housing or pay a fee. The bill requires 25% of the units to be reserved for very low, low, moderate, and middle income housing. Municipalities can withhold a certificate of occupancy if these requirements are not met. Developers can fulfill the housing requirement by developing units onsite or offsite within the municipality.
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