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Toms River to fund deed-restriction purchase at Northpointe/Deer Hollow to meet affordable-housing obligations, officials say
Summary
The council authorized appraisal services and discussed using the township's affordable-housing trust funds to purchase deed-restriction extensions on existing apartments (Northpointe/Deer Hollow) as part of its plan to meet state affordable-housing obligations and avoid new large-scale construction.
The council approved an authorization for appraisal services related to acquiring deed-restriction extensions at the Northpointe/Deer Hollow apartment complex, a move the administration said is designed to satisfy the township’s affordable-housing obligations while avoiding construction of thousands of new units.
Town officials described a strategy of…
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