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Committee releases amendments to help sweat-equity nonprofits build affordable homes
Summary
A3388, amended and released by the committee, would let sweat-equity certified nonprofits produce affordable ownership units with some code and marketing exemptions and expedited DCA assistance, aiming to expand nonprofit-led affordable housing production.
The Assembly Housing Committee amended and released A3388, a bill designed to facilitate construction and rehabilitation of affordable homeownership units built in part through sweat equity—labor contributed by eventual occupants. Committee amendments incorporate statutory updates and do not make substantive changes to the bill's core approach.
Under the bill as presented, the Commissioner of Community Affairs would approve…
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