Ridgewood Village Council to vote on affordable housing trust fund
Wednesday July 11, 2012, 11:46 AM
BY DARIUS AMOS
STAFF WRITER
The Ridgewood News
The Village Council on Wednesday will consider a resolution that officials hope will prevent the state from seizing $195,000 currently in Ridgewood’s affordable housing trust fund.
Already endorsed by the Planning Board, which gave a unanimous thumbs up last Tuesday, the resolution will commit the village’s affordable housing funds to Habitat for Humanity.
Municipalities across the state are passing similar resolutions in an effort to preserve their respective affordable housing trust funds. Communities are required by law to set aside development fees and other forms of payment with the intent of constructing low and affordable housing, and that money must be designated for projects within four years.
Lets see if they do the right thing.