N.J. Admin. Code § 5:43-1.1
The purpose of the Neighborhood Preservation Balanced Housing Program is to provide municipalities, for-profit and non-profit developers with financial assistance needed to spur the development of affordable housing across the State, in conformance with the State Development and Redevelopment Plan and in fulfillment of Section 20 of the Fair Housing Act of 1985, as amended. The Balanced Housing subsidy provides a critical source of gap financing for affordable housing projects whose other sources of public subsidy and private financing are not sufficient to sustain economic viability. The Program's subsidy formula is responsive to increases in the cost of land and construction. The Program is established to support the construction and preservation of permanent, high quality, location efficient affordable housing that meets the demand for units affordable to low and moderate income families and individuals residing in New Jersey.
N.J. Admin. Code § 5:43-1.1
See: 23 N.J.R. 1075(a), 24 N.J.R. 1385(a).
NPBHP assists in delivery of services.
Amended by R.1998 d.438, effective 9/8/1998.
See: 30 N.J.R. 1880(a), 30 N.J.R. 3239(b).
Inserted ", in conformance with the State Development and Redevelopment Plan and" in the first sentence.
Amended by R.2002 d.325, effective 10/7/2002.
See: 33 N.J.R. 3261(a), 34 N.J.R. 3500(a).
Inserted ", as amended" following "1985" in the former first sentence; deleted the former second sentence.
Amended by R.2007 d.202, effective 7/2/2007.
See: 38 N.J.R. 3711(a), 39 N.J.R. 2517(a).
Substituted "is to provide municipalities, for-profit and non-profit developers with financial assistance needed to spur the development of affordable housing across the State" for "shall be to assist in the delivery of housing affordable to low and moderate income households in viable neighborhoods" and inserted the last three sentences.