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Colts Neck adopts ordinance to sell an affordable unit at 34 Federal Key, Bus recuses
Summary
The Township Committee adopted Ordinance 2026-10 to sell a restricted property at 34 Federal Key to a qualified owner while preserving the town’s affordable-housing credit; Committeewoman Bus recused from the vote.
The Colts Neck Township Committee voted to adopt Ordinance 2026-10, which authorizes the sale of property at 34 Federal Key (Block 41.01, Lot 43) and preserves the township’s credit for affordable housing, Mayor Viola announced during the meeting.
The ordinance was read for a second time by title, opened for public comment and closed with no public speakers. Mayor Viola explained the township had exercised a right of first refusal to purchase the unit at the maximum restricted price; the ordinance now allows the township to sell the unit to a qualified owner while maintaining the affordable-housing credit.
The motion to adopt passed on a roll call vote with Committeewoman Bus recorded as recused; other members voted yes. The sale is intended to preserve an affordable unit and count toward the township’s state-mandated housing obligations.
The public hearing on related capital and ordinance matters was scheduled for June 10. Officials said additional paperwork and requirements tied to preserving affordability will be completed before closing.
