The New Jersey Workforce Housing Partnership Act is designed to tackle housing affordability issues for middle-class workers, such as teachers and healthcare professionals, by creating a Workforce Housing Assistance Program. This program will provide state grants to match employer-provided down payment assistance and offer low-interest mortgage options for eligible employees. The Act includes tax incentives for businesses that support their employees' homeownership and encourages the development of workforce housing through zoning flexibility. It allocates $55 million to fund these initiatives and establishes criteria for qualified employers and employees, as well as a special fund to support the program.

Additionally, the bill introduces provisions for the development of accessory dwelling units and mixed-use developments, allowing municipalities to create ordinances that facilitate these projects. It streamlines the approval process for site plans that include workforce housing, reducing the approval time from 45 days to 30 days. The bill also outlines responsibilities for construction inspections and allows for the use of private inspection agencies if necessary. Overall, the legislation aims to incentivize the development of affordable workforce housing while providing financial relief to impacted homeowners and enhancing housing options in New Jersey.

Statutes affected:
Introduced: 27:1B-25, 40:55D-10, 40:55D-46, 40:55D-46.1, 40:55D-48, 52:27D-132