Guided by a state Supreme Court ruling dating back to the 1970s, New Jersey has for years required municipalities to take affordable housing into account when reviewing development plans. Many residents and towns have fought the mandate, but it persists. Here, in the retail hub of Bergen County, a plan to deal with the mandates has finally been adopted, as reported by NorthJersey.com, the online presence of The Record.
PARAMUS — The mayor and council on Monday night adopted an ordinance that would lay out a plan for the borough to help meet its state-mandated affordable housing obligation.
The inclusionary development ordinance requires that residential developments of three units or more set aside 10 percent of their units for affordable housing in an effort to meet a to-be-determined mandate that is currently in litigation.
Among other things, the ordinance requires that units be set aside at a rate of one affordable unit for every nine market-rate units, and a "fractional obligation" would be met by a payment in lieu of construction. That payment was set at $180,000 per unit, and collected funds would be deposited in the borough's affordable housing trust fund.