236-14 westorangeResolutionrecommittingadmin12 9 14.pdf

Township of West Orange Resolution No. County of Essex 236-14 December 9, 2014 RESOLUTION AUTHORIZING COMMITMENT BY THE TOWNSHIP OF WEST ORANGE FOR ONGOING AFFORDABLE HOUSING ADMINISTRATIVE EXPENSES INCURRED FROM THE DEVELOPMENT FEES AND INTEREST COLLECTED BY THE TOWNSHIP WHEREAS, the Township of West Orange has collected development fees in accordance with an approved Development Fee Ordinance; and WHEREAS, the Township of West Orange has collected a total of $5,577,938.03 in fees and interest as of December 2014; and WHEREAS, the Township of West Orange has expended $550, 023.56 in administration costs as of December 2014; and WHEREAS, the Township of West Orange is entitled to take up to twenty percent (20%) as reimbursement for administrative expenses; and WHEREAS, the Township of West Orange has previously taken less than 20 percent in administrative fees; and WHEREAS, the Township of West Orange is committing its trust fund money for administrative expenses incurred by West Orange’s affordable housing planner, attorney, administrative agent and municipal staff while consulting on affordable housing issues. NOW, THEREFORE, BE IT RESOLVED, by the Township Council of the Township of West Orange, that it hereby commits up to twenty percent (20%) from the Development Fee account for present and future administration expenses. Karen J. Carnevale Jerry GuarinoSusan McCartney Township Clerk Council President