RCA

July 17, 2008 - 4:38pm
PRESS RELEASE

ASSEMBLY DEMOCRATS: A-500: Fact vs. Fiction

Assembly Democrats News Release

A-500: FACT VS. FICTION

Fiction: A-500 will increase a town's affordable housing obligations.

FACT: COAH's revised third-round regulations are entirely separate from A-500 and were not voted on by the Legislature. COAH's latest rules increased the affordable housing ratios from one affordable unit for every eight market-rate units to one affordable unit for every four market-rate units for residential construction and from one affordable unit for every 25 jobs created to one affordable unit for every 16 jobs created for nonresidential construction. These ratios were adopted by COAH in early June 2008 and are unrelated to A-500.

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