NJ A2820

The Division of Purchase and Property in the Department of the Treasury must develop a comprehensive inventory of all real property owned by the State, including property held by agencies, authorities, and other state instrumentalities.

The division must analyze the feasibility of developing, redeveloping, or renovating state-owned parcels for use as low and moderate income housing, in consultation with the NJ Economic Development Authority, NJ Redevelopment Authority, and NJ Housing and Mortgage Finance Agency.

An initial report containing the inventory and feasibility analysis must be submitted to the Governor and Legislature within 13 months of the bill's effective date.

The report must be updated and resubmitted annually, and the division director must post each annual report on the division's website following submission.