 Posted: Mon, Nov 8 2010, 12:47 pm EST Post subject: N.J. Assembly committee to consider affordable housing bill that focuses on rezo |
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| TRENTON — An affordable housing bill before the Legislature does not actually require towns to provide housing opportunities for low-income residents, but it does credit municipalities if they rezone for more expensive homes, according to a report scheduled for release Monday.
"It's not an exaggeration at all to say this bill may not result in any low- or moderate-income housing," said Kevin Walsh, associate director of the nonprofit Fair Share Housing Center, which produced the report. "This legislation is working at cross purposes with dozens of other state policies." An Assembly committee plans to consider the bill (A3447) and amendments Monday. Part of the legislation says towns that fall short on their affordable-housing obligation can rezone 20 percent of their developable land to allow for housing for people who earn up to 150 percent of their region's median income. By comparison, "affordable housing" covers incomes from zero to 80 percent of median income. According to the report, a copy of which was obtained by The Star-Ledger, 150 percent of median income for a family of four in Essex County is $131,721, an amount that translates into a house that could sell for $529,900. More: http://www.nj.com/news/index.ssf/2010/11/nj_assembly_committee_to_consi_4.html |
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