S.1946

New Jersey S1946 allows municipalities to establish affordable housing preferences for their residents.

New Jersey S1946 allows municipalities to establish affordable housing preferences for their residents. The bill permits municipalities to enter into agreements with developers to provide up to 50 percent of affordable units in a project to current residents of the municipality. This preference applies to applicants who apply within 90 days of the initial 120-day marketing period. After the first 90 days, if any units remain available, applicants from the general public are considered.