New Jersey S265 mandates that owners of multiple dwellings with three or more floors prioritize senior citizens and disabled residents for lower.
New Jersey S265 requires owners of multiple dwellings with three or more floors to prioritize senior citizens and disabled residents for lower floor units. These qualifying residents are granted the right of first refusal over outside applicants and other non-qualifying residents. The bill exempts buildings held in a cooperative form of ownership. Owners must also post a sign detailing the priority status for qualifying residents. The requirements do not affect existing affordability, targeting, or income restrictions.
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