Changes earliest date of construction or rehabilitation of housing granted credits without controls.
These adjustments aim to promote a more comprehensive approach to affordable housing across municipalities, ensuring that older constructions are acknowledged in the fair share calculations for housing needs. By expanding the eligibility criteria, S790 intends to incentivize municipalities to develop and rehabilitate housing aimed at low and moderate-income families, aligning local housing policies with statewide goals for providing equitable housing opportunities.
Senate Bill S790 proposes important changes to the framework for how municipalities in New Jersey address their responsibilities regarding the provision of affordable housing. The bill specifically amends existing law by altering the earliest date of construction or rehabilitation for housing units that qualify for credits without controls. The current date of April 1, 1980 will be replaced with January 1, 1948, which marks the effective date of the New Jersey State Constitution, thereby broadening the scope of past housing construction and rehabilitation that qualifies for these credits.
Key points of contention surrounding the bill may revolve around the implications of granting credits for older housing developments, which some stakeholders may argue could lead to concerns regarding quality and safety. Critics might contend that focusing on credits linked to older constructions could dilute the standards for affordable housing developments and potentially lessen the urgency for new housing projects that more effectively meet present and future needs. Additionally, the delineation of who qualifies as low or moderate income will also be a significant topic in discussions regarding the bill's potential impacts.