New Jersey S2451 provides preservation bonus credits for certain municipalities to offset affordable housing obligations.
New Jersey S2451 amends the "Fair Housing Act" to provide preservation bonus credits against affordable housing obligations for certain municipalities. The bill allows municipalities to receive credits for various types of low- and moderate-income housing, including units for individuals with special needs, permanent supportive housing, and family housing with at least three bedrooms. It also provides credits for housing located near public transit stations and for contributions towards affordable housing projects.
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