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New Providence endorses fourth-round affordable housing plan, updates trust fund spending
Summary
Council endorsed the borough's fourth-round housing element and fair share plan (proposing 51 units, 48 satisfied through renewals) and adopted an updated affordable housing trust fund spending plan to manage collection and expenditures for future affordable housing development.
The Borough Council endorsed Resolution 2025-168, supporting New Providence's fourth-round housing element and fair share plan as adopted by the planning board. Council members said the plan calls for 51 units, 48 of which would be satisfied through renewal of existing affordable units at Elizabeth Barabash Manor and Southgate at Murray Hill.
Council also adopted Resolution 2025-169, which updates the affordable housing trust fund spending plan to align with the fourth-round submission and to permit collection and expenditure of current and future trust funds for affordable housing projects. The spending plan is meant to follow earlier third-round commitments where appropriate.
Council described the plan as next to be transmitted into the courts as part of the statutory process; staff will provide future updates as the plan advances through required reviews and court processes.
The council approved these items as part of the consent agenda vote taken later in the meeting.
