55:14K-25 - Reservation of funds for use in municipalities eligible for state aid for services and to offset property taxes - New Jersey Statutes

55:14K-25.  Reservation of funds for use in municipalities eligible for state aid for services and to offset property taxes
    At least 25% of the funds made available by the agency for the acquisition,  operation, construction, rehabilitation, conversion, improvement or ownership  of residential properties of from one to four, or from five to 12, dwelling  units shall be reserved for use in municipalities which qualify for State aid  under P.L.1978, c. 14 (C. 52:27D-178 et seq.). The period of reservation shall  be established by the agency at its discretion, but shall not be less than four  months.  The period may be extended at the agency's discretion, with or without  adjusting the amount of funds so reserved.

     L.1983, c. 530, s. 25, eff. Jan. 17, 1984.