June 30, 2011
New Jersey Legislature Extends Moratorium on 2.5% Affordable Housing Fee for Non-Residential Developers
Author: William F. Harrison, Esq. and Steven Pacicco View article On June 29, 2011, the New Jersey Legislature unanimously passed legislation (S2974/A4221) extending the moratorium on the 2.5% affordable housing fee that non-residential developers were required to pay as part of a revision of the “Fair Housing Act,” P.L.2008, c.46. The legislation will take effect when it is signed by Governor Christie. The original moratorium was included as part of the Economic Stimulus Act of 2009, P.L.2009, c.90. It expired on July 1, 2010. This bill extends the moratorium until July 1, 2013, provided that a non-residential developer obtains preliminary site plan or subdivision approval by that date, and obtains building permits by January 1, 2015.