Both houses of the New Jersey Legislature have approved legislation that would overhaul the state’s affordable housing system. Gov. Chris Christie has indicated that he would only sign the original version of the bill (S1), passed in June. Both the Assembly and Senate have changed that legislation, which abolishes the Council on Affordable Housing, among other things. The bill would also require that towns with fewer than 20 percent of children eligible for free or reduced lunch ensure that one-tenth of their total housing stock be affordable for low-and moderate-income families. Towns where 20 to 50 percent of children are eligible would have to make 8 percent of their units affordable. It includes a 1.5 percent fee for residential developments that do not include low-income housing. Read More…