This bill proposes several updates to the current statutes regarding municipal zoning for multifamily residential development and adaptive reuse of commercial properties. Under the new provisions, municipalities with populations of 150,000 or more will be required to establish objective standards for multifamily residential development or adaptive reuse of existing commercial, office, or mixed-use parcels within 90 days of the bill's effective date. The bill changes the focus from a maximum of 10% of existing buildings to a minimum of 10% of existing parcels eligible for such developments. Additionally, it prohibits municipalities from designating individual parcels for development or excluding parcels from eligibility based on sound levels below 65 decibels.

The bill also modifies definitions and requirements related to multifamily developments and adaptive reuse projects. It removes certain criteria from the definitions of low-income and moderate-income housing, specifically the stipulation regarding rent or mortgage payments not exceeding 30% of gross income. Furthermore, it clarifies that existing setbacks and heights for adaptive reuse must be maintained unless specific conditions are met. The changes aim to streamline the process for municipalities while ensuring that developments adhere to established zoning codes and standards. The act is designated as an emergency measure, taking effect immediately upon the Governor's signature and retroactively applying to January 1, 2025.

Statutes affected:
Introduced Version: 9-462.10
House Engrossed Version: 9-462.10
Chaptered Version: 9-462.10