Expands Brownfields Redevelopment Incentive Program to provide tax credits to developers of residential redevelopment projects undertaken on remediated brownfield sites.

Summary

The legislation amends the existing Brownfields Redevelopment Incentive Program to add tax credits for developers who build residential housing on remediated brownfield properties. It applies to any developer entering a redevelopment agreement with the New Jersey Economic Development Authority and targets projects that meet the program’s affordable‑housing definition. The goal is to encourage the reuse of contaminated sites for housing and spur economic revitalization.

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