Town Considers Affordable Housing Proposal

April 15, 2008 at 8:06 am

Local lawyer and landlord offers to help Hackettstown meet its affordable quota.

A developer on Monday offered to establish five affordable-housing units in town in exchange for $250,000 from the town's affordable-housing fund.

Town council said it would consider the proposal from Robert Russell, a town lawyer and landlord.
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There is precedent for such an exchange, Russell said. Washington Township, Morris County, where he lives, gave a developer $500,000 to build local affordable housing.

The money would come from Hackettstown's affordable-housing fund, which developers pay into in lieu of building required affordable housing. Hackettstown has $275,000 in its fund.

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