Directs COAH to adopt regulations to require municipalities to prioritize current residents in affordable housing applications.
If enacted, A652 would have a significant impact on state housing laws and local zoning regulations. Municipalities would be obligated to reserve a percentage of units in new residential developments, specifically those resulting from zoning changes of previously non-residential areas, for low and moderate income households. This requirement not only aims at increasing affordable housing availability but also seeks to create a fairer allocation of housing resources to existing residents who may be in need of assistance. The bill establishes a framework for balancing housing development with community needs.
Assembly Bill A652 aims to direct the Council on Affordable Housing (COAH) to adopt regulations that require municipalities in New Jersey to prioritize current residents in applications for affordable housing. The intent of the bill is to ensure that local residents benefit from new affordable housing developments, particularly in areas where zoning changes may allow for the construction of such units. By mandating this preference, the bill seeks to address the disparities in access to affordable housing that often affect low and moderate income residents.
Notably, the bill may face contention regarding the economic feasibility of the required set-asides for low and moderate income households. Concerns about potential hindrances to development projects due to the imposed regulations might arise from developers and local governments who may argue that such requirements could disincentivize new housing projects. Advocates for affordable housing, however, may argue that the long-term benefits of ensuring that local residents have access to affordable housing far outweigh the short-term challenges faced by developers. The debate may further focus on how effectively municipalities can comply with these new regulations without facing financial constraints.