Why would a private developer build 100% low and moderate income income housing if their cost to build exceeds their projected revenue from the project.? The NJ State Supreme court has ruled on the issue of affordable housing and EVERY municipality must comply, so the choice for the Village is to either build it themselves in which case the existing taxpayers end up footing the entire bill or they can offer an incentive to private developers via a reasonable “set-aside” for an affordable housing component in their proposed development. So the choice is simple, the residents can either pay for the whole thing themselves or they can partially subsidize someone who will. DUH !!
And how will the “low and moderate income” residents afford living in towns like Upper Saddle River, Ridgewood, Wilton, Chappaqua and other towns in the northeast? Will the courts order the local taxpayers to subsidize their living costs as well? I can’t afford to live in Ridgewood. Why should anyone who does not have the means be entitled?
This is not just a NJ issue but a national one. The courts have overstepped their power.
While the courts are at it let’s have them rule that “someone” build luxury housing in Camden to “equalize” things.
We’ve become a stupid, politically correct, entitled, crybaby, country.