Yesterday, A-4414, a bill which the League opposes, was reported out of the Assembly Housing and Community Development Committee with a committee substitute. The League understands the need for affordable housing, and appreciates legislative efforts to come up with a solution for this important issue. However, the one-size-fits-all approach contemplated by A-4414 fails to effectively address the issue and will instead lead to unintended consequences.
The Committee Substitute of A-4414 would require developers of residential housing with 30 or more newly-constructed residential units to provide a specific set aside for low, moderate, and middle-income housing or pay a fee. This required set-aside limits a municipality’s ability to negotiate with a developer and may limit the financial viability of a project, thus reducing the number of available housing units.
S-3056, the Senate companion for A-4414 has been referred to the Senate Community and Urban Affairs Committee but has not been scheduled for a hearing. We urge our members to reach out to your legislators and ask them to oppose A-4414/S-3056.
Contact: Frank Marshall, Esq., League Staff Attorney, firstname.lastname@example.org, 609-695-3481 x137.