New Jersey S1081 requires developers to provide low, moderate, and middle income housing or pay a fee.
New Jersey S1081 mandates that developers of residential housing projects with 30 or more units must either reserve a portion of these units for very low, low, moderate, and middle income housing or pay a development fee. The bill outlines specific percentages of units that must be reserved based on the completion of market rate units. For instance, if more than 25 percent of market rate units are completed, at least 10 percent of the affordable units must be completed. The bill also specifies that a certain percentage of the affordable units must be two and three bedroom units.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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