Sponsored by:
Senator TROY SINGLETON
District 7 (Burlington)
SYNOPSIS
Requires Division of Purchase and Property to issue annual report on State-owned property and potential for use as affordable housing.
CURRENT VERSION OF TEXT
As introduced.
An Act requiring annual report on State-owned property and potential for use as affordable housing, and supplementing chapter 18A of Title 52 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. The Division of Purchase and Property in the Department of the Treasury shall develop an inventory of all real property owned by the State, including property owned by an agency, authority, or other instrumentality of the State. In consultation with other State entities, including, but not limited to, the New Jersey Economic Development Authority, the New Jersey Redevelopment Authority, and the New Jersey Housing and Mortgage Finance Agency, the division shall analyze the feasibility of developing, redeveloping, or renovating the various parcels of real property owned by the State for use as low income and moderate income housing, as defined pursuant to section 4 of P.L.1985, c.222 (C.52:27D-304). The division shall develop its inventory and analysis into a report, and shall submit this report to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature, on or before the first day of the 13th month next following the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill). The report shall be updated and resubmitted to the Governor and Legislature on an annual basis after the initial submission.
2. This act shall take effect immediately.
STATEMENT
This bill would require the Division of Purchase and Property in the Department of the Treasury to develop an inventory of all real property owned by the State. In consultation with other State entities with expertise in housing development, the bill requires the division to analyze the feasibility of developing, redeveloping, or renovating the various parcels of real property owned by the State for use as low and moderate income housing. The bill requires the division to develop its inventory and analysis into a report, and submit this report to the Governor and Legislature, on or before the first day of the 13th month following the bills effective date. The bill requires the report to be updated and resubmitted to the Governor and Legislature on an annual basis.