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Toms River council approves submission of affordable-housing plan, extends deed-restricted units and rehires outside counsel
Summary
Council voted to reappoint outside counsel and to submit an affordable-housing plan that relies on deed-restriction extensions and credits to meet the state's fourth-round obligation, the township—s affordable-housing attorney said.
The Toms River Township Council voted to re-engage outside counsel and to move forward with a housing element and fair-share plan that the administration says will meet the town—s fourth-round affordable-housing obligation mainly by extending existing deed-restricted units and applying credits.
Affordable-housing counsel told the council the township negotiated deed-restriction extensions on roughly 470 existing units, which would preserve those units as affordable for another 20 to 30 years and generate "bonus credits" that count toward the town's obligation. The counsel and planner said they also expect to claim a credit of roughly 200 units based on prior round agreements, enabling the township to meet…
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