Establishes "Affordable Housing Obligation Study Commission."
Impact
The commission is mandated to study the historical context of affordable housing initiatives in New Jersey, evaluate their effectiveness, and propose strategies that municipalities can utilize to fulfill affordable housing obligations. This will include public hearings and information dissemination to ensure a robust understanding of community needs and preferences. Their findings and recommendations must be published within 365 days of the commission's formation, making this a time-sensitive endeavor.
Summary
Assembly Bill A409 establishes the 'Affordable Housing Obligation Study Commission' in New Jersey, appointed by various legislative leaders and the governor. This commission is designed to function independently within the Department of Community Affairs and is composed of the Executive Director of the New Jersey Housing and Mortgage Finance Agency and six public members. The primary objective of this commission is to address the state's affordable housing requirements through a comprehensive study and analysis of existing practices and obligations at both state and local levels.
Contention
Notably, the bill emphasizes independent assessments of state guidance and its impact on municipalities regarding housing needs. This raises potential contention around the effectiveness of prior housing policies and the degree of assistance the state provides to local governments. The outcome of the bill could lead to significant legislative recommendations on how communities can better address affordable housing in light of projected population increases and housing demand.