With some modifications Senate Bill S-2577 (A-3772), allowing the conversion of age-restricted housing developments, has finally been signed by Gov. Jon S. Corzine and takes effect immediately. As reported earlier, the new legislation permits the conversion of age-restricted housing units to non-age-restricted housing units and modifies laws concerning affordable housing. In May, Gov. Corzine returned the legislation back to the Senate with recommendations. The new law has evolved to better protect municipalities, making it clear that the reviewing municipal board should approve the conversion where there is no substantial detriment to the public good or impairment of the the intent and purpose of the zone plan and zoning ordinance. The appeal language has also been modified, allowing an appeal directly to court. Unlike a typical prerogative writ action, however, the appeal must be filed within 30 days of the applicant’s receipt of the resolution of denial. For further details and a copy of the Advanced Law click here.
Governor Issues Conditional Veto of Bill Allowing Conversion of Age Restricted Housing Developments.
On May 4, 2009, Governor Corzine returned Senate Bill No 2577 back to the Senate with recommendations, indicating that he was concerned that the “bill does not go far enough in ensuring the provision of housing for those whose needs the private market has not addressed, and further recommend providing local governmental units with additional approval authority in matters of planning for residential developments.” The bill, as discussed in a prior post, would permit the conversion of age-restricted housing developments to non-age restricted housing developments under certain circumstances. In application, it would make modifications to the municipalities affordable housing requirements. » Read the rest of this entry «
Adopted Bill Allows for Change of Age-Restricted Housing Units to Non-Restricted Housing Units Under Certain Circumstances
On March 16, 2009, the New Jersey Assembly and Senate adopted bill A3772/S2577. If signed by the Governor, the act would allow for the conversion of age-restricted housing units, pending approval by the local planning or zoning board (who seem to have very little discretion to deny the conversion). The Bill has met with substantial resistance from local governments and it remains to be seen if it will be signed into law by the Governor.
To be eligible for conversion, the developer must agree to set aside a percentage of the units in the development (not to exceed 20 %) for the provision of affordable housing. These units would count towards fulfilling the municipality’s affordable housing obligation. To be eligible for conversion, the developer must have received preliminary or final approval prior to the bill’s effective date and the developer can not have any deposits from buyers. » Read the rest of this entry «