CHATHAM, NJ - The Chatham Township Committee will make a presentation on possible municipal affordable housing "site or sites" at its meeting set for Thursday and will also vote on the adoption of a 1.5 percent development fee that it had tabled at its last meeting.
At its Oct. 24 meeting, the committee unanimously adopted an Affordable Housing Ordinance, which sets forth the implementation guidelines for the court agreement it signed Dec. 13, 2018, on its third round obligations.
That court settlement committed Chatham Township to finance any developers' funding shortage for the construction of 74 affordable housing units needed to meet its third round obligation. That cost could be as high as $4 million and is the reason for the introduction of the developer's fee.
The adopted ordinance also designates "sites" to be determined for the construction of the 74 affordable housing units. The committee declined to comment on what sites were being considered at the Oct. 24 meeting, but has such a presentation on its agenda for Thursday.