This bill amends the "Local Redevelopment and Housing Law" to expand the criteria for designating areas in need of redevelopment. Specifically, it introduces a new condition that allows municipalities to classify areas as needing redevelopment if they are included in the municipality's adopted housing element and fair share plan. This applies to sites designated for inclusionary development, which may consist of both market-rate and affordable housing projects, or entirely affordable housing projects. Importantly, the housing element and fair share plan must have received court approval to ensure compliance with the municipality's constitutional and court-mandated affordable housing obligations under the "Fair Housing Act."

The bill aims to facilitate the development of affordable housing by recognizing designated sites as areas in need of redevelopment, thereby streamlining the process for municipalities to address their housing obligations. This legislative change is intended to support the creation of more inclusive and diverse housing options within communities, aligning with broader goals of smart growth and sustainable development. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 40A:12A-5