Signed by Governor Jon Corzine

Vetoed by Governor Jon Corzine

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that authorizes municipalities, upon request by a developer, to remove age-restrictions on housing developments, provided that the developer meets specific criteria.

Highlights:

- Requires developers seeking to remove age restrictions on housing developments to commit at least 20 percent of the units for affordable housing (Sec. 3). - Prohibits municipalities from removing age restrictions on housing developments if the developer is holding a deposit for, or has transferred the title of any unit within the development (Sec. 3). - Requires developer seeking to remove age restrictions on housing developments to provide the appropriate board (municipal or regional planning board, zoning board of adjustment, or joint land board) with documentation of the following site improvement and infrastructure requirements (Sec. 4):

- Parking requirements for the residential land according to the Residential Site Improvement Standards; - Recreation improvements and other amenities to be constructed to meet the needs of a converted development; - Adequate water supply to meet the needs of a converted development; - Adequate and sanitary sewer system to meet the projected flow requirements of a converted development; - Necessary reduction in the number of units in the development if additional parking, water supply, or sewer capacity is necessary and the developer is unable provide for such, so as to meet the needs of a converted development; and - Storm water system calculations and improvements if additional parking is provided and increases the amount of impervious cover by more than one percent.

- Specifies that an application to remove age restrictions on housing developments must be submitted by the developer to the appropriate board within two years of the effective date of this Act, unless the board finds that the economic conditions continue to adversely affect the real estate market in New Jersey, then the board may extend this deadline by an additional two years (Sec. 9).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that authorizes municipalities, upon request by a developer, to remove age-restrictions on housing developments, provided that the developer meets specific criteria.

Highlights:

- Requires developers seeking to remove age restrictions on housing developments to commit at least 20 percent of the units for affordable housing (Sec. 3). - Prohibits municipalities from removing age restrictions on housing developments if the developer is holding a deposit for, or has transferred the title of any unit within the development (Sec. 3). - Requires developer seeking to remove age restrictions on housing developments to provide the appropriate board (municipal or regional planning board, zoning board of adjustment, or joint land board) with documentation of the following site improvement and infrastructure requirements (Sec. 4):

- Parking requirements for the residential land according to the Residential Site Improvement Standards; - Recreation improvements and other amenities to be constructed to meet the needs of a converted development; - Adequate water supply to meet the needs of a converted development; - Adequate and sanitary sewer system to meet the projected flow requirements of a converted development; - Necessary reduction in the number of units in the development if additional parking, water supply, or sewer capacity is necessary and the developer is unable provide for such, so as to meet the needs of a converted development; and - Storm water system calculations and improvements if additional parking is provided and increases the amount of impervious cover by more than one percent.

- Specifies that an application to remove age restrictions on housing developments must be submitted by the developer to the appropriate board within two years of the effective date of this Act, unless the board finds that the economic conditions continue to adversely affect the real estate market in New Jersey, then the board may extend this deadline by an additional two years (Sec. 9).

Full Bill Text