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Council approves spending plan to extend expiring affordable-housing deed restrictions using trust funds
Summary
The council adopted a spending plan that uses money from the township’s affordable-housing trust to extend deed restrictions on existing affordable units; the measure attracted debate and several council votes against the plan pending further review of materials.
TOMS RIVER, N.J. — The Toms River Township Council approved a spending plan to deploy funds from the town’s affordable-housing trust to extend deed restrictions on previously created affordable units, a step the administration said would preserve affordable units without building new developments.
Town officials explained the mechanics at the meeting: deed restrictions tied to developer-created affordable units typically expire after a statutory period (commonly 20 years). Township counsel and staff told the council the municipality holds roughly $9 million in its affordable-housing trust and can use some of that money to negotiate extended deed restrictions with property owners to keep units affordable for additional decades.
“After 20 years, all of those deed restrictions expire,” a township official said during the meeting, noting earlier large rounds of developer-built units. The spending plan would, officials said, buy extended affordability and reduce the township’s near-term new-unit obligation with the State of New Jersey.
Council President Lamb moved the resolution for approval and councilwoman O’Toole seconded. The motion passed on roll call after debate; several council members said they needed more time to review the packet for the agenda item and voted no or abstained. One council member who spoke against the motion said he had been inundated with constituent communications in the 24 hours after the agenda was posted and wanted more time to study the supporting materials.
Proponents said the approach would preserve existing affordable units without overbuilding or consuming more open land. One administration speaker said that if the township were able to extend expiring deed-restricted units, it could receive credits toward state obligations equal to the number of extended units — an outcome the administration described as “money well spent” if negotiated successfully.
Opponents said they wanted more time to understand the full packet — council members referenced 65–70 pages of supporting documents — and at least one member voted no to allow additional review. The council approved the spending plan with a majority of votes on the consent agenda roll call.
Administration and legal staff said details — the number of units to be extended, proposed per-unit payments and negotiation processes — would follow in the implementing documents and that the council would be briefed further before any specific purchases or agreements were executed.
