NJ S2960

Municipalities may direct planning boards to conduct special reexaminations of master plans and development regulations to qualify for preferential State funding by adopting housing strategies that increase residential density.

Housing strategies to be considered include permitting accessory dwelling units, two- or three-unit dwellings in single-family zones, manufactured housing, multi-unit or mixed-use development on commercial lots, higher density near transit stops, and reducing parking, lot size, or unit size requirements.

Department of Community Affairs must establish funding preferences for qualifying municipalities across competitively-awarded programs including Main Street New Jersey and Neighborhood Preservation, and enter memoranda of understanding with other State agencies to implement similar preferences.

Commissioner of Transportation must establish criteria giving preferential consideration to qualifying municipalities when allocating Transportation Trust Fund monies for municipal projects.

School districts in qualifying municipalities may receive up to 10% increase in their district aid percentage for school facilities projects; regional districts receive proportional increases based on constituent municipalities' enrollment shares.