Colts Neck approves $1.09M in vouchers, including $840K to extend affordability controls on 21 units

The Colts Neck Township Committee approved vouchers totaling $1,090,263.42 at its May 27 meeting, including a group of payments intended to extend affordability controls on existing units.

Finance staff said the bulk of the vouchers — about 80% or $840,000 — are payments of $40,000 each to 21 unit owners who agreed to extend affordability controls on their units for another 30 years. Committee members said the strategy uses existing units to help the township meet state affordable‑housing obligations without building new units that would increase demand on local services.

Committeeman Tobia said he would vote for most bills on the voucher list but opposed the $40,000 deed‑restriction payments, saying there are unanswered questions, including pending litigation and uncertainty about whether the payment is a loan or a grant and whether recipients will face tax consequences. Tobia stated he would vote no on those items; the roll call shows the other committee members voted yes.

Mayor Viola described a recent example in which the township sold a unit obtained under its right of first refusal at the restricted price and said that as additional homeowners sign paperwork to extend controls, their payments will appear on future bills. He said 21 unit owners are being paid now and that additional owners will be processed as paperwork is returned; earlier in the meeting officials referenced 34 homeowners who had agreed or were in process and a total of 66 owner‑occupied units in the project.

The committee approved the vouchers by roll call; recorded votes show three yes and one no on the voucher package item discussed.