TRENTON, NJ-The state Supreme Court ruled Thursday thatNew Jersey must eliminate the fair-housing formula thatautomatically requires a town to collect fees from developers tosupport affordable housing only when there is growth in acommunity.

The state's Council on Affordable Housing must rewrite itsregulations so that towns have an obligation to build a specific minimum number of homes for low-income residents —returning to the type of standards it had before Gov. ChrisChristie's effort to dismantle the agency.

Commercial real estate is “double-thrilled,” says theNAIOP organization's Michael McGuinness. On the other hand, saysMcGuinness, his organization supports modernizing fair-housingstandards and affordable-housing regulations to reflect today's“environment and economy.”

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