238-14 Additional Funds for Emergency Repair Pgm. Under Affordability Asst..pdf

238-14 December 9, 2014 RESOLUTION AUTHORIZING COMMITMENT OF ADDITIONAL FUNDS FOR EMERGENCY REPAIR PROGRAM UNDER AFFORDABILITY ASSISTANCE WHEREAS, N.J.A.C. 5:97 – 8.8 (a) requires that at least 30 percent of all development fees collected and interest earned shall be used to provide Affordability Assistance to low income and moderate income households in affordable units included in a municipality’s Fair Share Plan; and WHEREAS, N.J.A.C. 5:97 – 8.8 (a) 1. states that among other options, Affordability Assistance may include assistance with emergency repairs; and WHEREAS, the Township has the following units / projects in its certified Fair Share Plan; Degnan House, Jewish Federation Plaza, Woodland Valley, 4 Wedgewood Drive, Marmon Terrace, 97 Edgewood Avenue, 525 Pleasant Valley Way, 19 Dogwood Drive, Prism Group Home, 39 Washington, 158 Main Street, 152 Main Street, 112 Whittlesey Avenue and those homes in the Rehabilitation Program that still contain the 10 year lien; and WHEREAS, the Township is committed to making available additional funding for emergency repairs of $450,000 on an as-needed and requested basis; and NOW, THEREFORE, BE IT RESOLVED, that West Orange Township shall authorize, in addition to the funds previously committed, an additional committed allocation of $450,000 for its Affordability Assistance requirement in the form of emergency repairs to units / projects that are in its certified Fair Share Plan. I certify the above to be a true copy of a Resolution adopted by the Township Council of the Township of West Orange at a meeting held on _________________. Karen J. Carnevale Susan McCartney Township Clerk Council President Adopted: January 6, 2015December 9, 2014