The rules at N.J.A.C. 5:80-9.13 are intended to create an alternative rent increase procedure and to produce additional cash for non-subsidized housing projects, which tend to be older projects in need of capital improvements and repairs. Amendments to N.J.A.C. 5:80-9.13 are proposed as follows:  (1) At N.J.A.C. 5:80-9.13(a), to require an Agency-approved annual tenant income certification process and to clarify the definitions of “low income families” and “moderate income families” as used therein; (2) at N.J.A.C. 5:80-9.13(b), to clarify the conditions under which a project sponsor can avail itself of N.J.A.C. 5:80-9.13(a); (3) at N.J.A.C. 5:80-9.13(b)2 and (c), to clarify the meaning of the existing rule and of the rent increase procedure; (4) to add new subsection (d) to clearly state that a project with more than 10 percent low income residents must maintain such units as low-income units until vacancies occur; and (5) to recodify the last sentence of subsection (e) (proposed to be recodified as (f)) as subsection (g) for clarity.          

Interested persons may submit written comments by January 20, 2006 to:

Darryl Applegate
Director of Regulatory Affairs
New Jersey Housing and Mortgage Finance Agency
637 South Clinton Avenue
P.O. Box 18550