The New Jersey Workforce Housing Partnership Act is designed to tackle housing affordability issues for middle-class workers, such as teachers and first responders, by creating a Workforce Housing Assistance Program. This program will provide state grants to match employer contributions for down payment assistance and offer low-interest mortgage options for eligible employees. The Act incentivizes businesses to support their employees' homeownership through tax credits and encourages municipalities to utilize zoning flexibility for workforce housing development. 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 Act introduces a framework for municipalities to develop accessory dwelling units and mixed-use developments, while linking state aid for transportation projects to the adoption of ordinances that promote such developments. It streamlines municipal agency procedures for site plan approvals, particularly for projects that include workforce housing, and establishes timelines for these approvals. The bill also creates a Workforce Housing Impact Relief Program to provide grants to long-term homeowners affected by new developments, appropriating $50 million to the Workforce Housing Assistance Program Fund and $5 million to the Workforce Housing Impact Relief Fund. Overall, the legislation aims to incentivize the development of affordable workforce housing and provide financial relief to impacted homeowners.

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