N.J. Stat. § 55:14K-78
Eligibility for loan
New Jersey · New Jersey Statutes Title 55 — Tenement Houses and Public Housing · Status: effective
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- Citation
- N.J. Stat. § 55:14K-78, Eligibility for loan, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1484472
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Full text
7. A project of new construction, substantial rehabilitation, or retrofitting by a qualified housing sponsor shall be eligible for a loan under P.L.1998, c.128 (C.55:14K-72 et seq.) if:
a. the housing units to be constructed or substantially rehabilitated are sufficient in number and located on the same or contiguous parcels of land or within such proximity to each other as to render the cost per unit of housing practicable for acquisition by low or moderate income purchasers; and
b. each housing unit which is constructed, substantially rehabilitated, or retrofitted will conform to all requirements of the "State Uniform Construction Code Act," P.L.1975, c.217 (C.52:27D-119 et seq.).