MILLSTONE – Municipal officials in Millstone Township are taking action to develop a site on Novad Court as they work to address the township’s obligation to provide opportunities for the development of affordable housing.
Novad Court is off Route 537 in the vicinity of Six Flags Great Adventure in Jackson.
On March 16, Township Committee members passed a resolution which authorizes the execution of an affordable housing agreement with the Affordable Housing Alliance (AHA), Neptune, for the property at 6 Novad Court. The property is owned by Millstone Township.
The AHA is a nonprofit corporation that works with municipalities in New Jersey to assist with affordable housing compliance. According to the resolution, the AHA was appointed to serve as the affordable housing administrator for Millstone.
Under the terms of the agreement, the AHA will facilitate the construction, ownership, operation and management of the project, which will provide three affordable housing units.
Affordable housing is defined as housing that is sold or rented at below market rates to individuals and families whose income meets certain guidelines.
Millstone Township, like other municipalities in New Jersey, is required to provide opportunities for the development of affordable housing within its borders.
The AHA has worked with Millstone officials on affordable housing projects in the past, including the Allen House, Stagecoach Road, which provides 10 affordable housing units for seniors; the Allen House II, Stagecoach Road, which provides 10 affordable housing units for seniors; and the Millstone House Apartments, Burnt Tavern Road, which provides four affordable housing units.
As part of the most recent affordable housing agreement, committee members also passed a resolution which supports an application for funding from the Monmouth County Office of Community Development HOME Housing Production Program for the Novad Court project.
According to the resolution, the application is in the amount of $441,500 or an amount not to exceed the maximum allowed.
The resolution states that the planned development on Novad Court is intended for individuals and families who are or were formerly homeless.
Millstone has a lease agreement with the AHA for the property that will be in effect through 2053, according to the resolution. Municipal officials provided an exemption from property taxes for the property so income generated from the site can be used to provide appropriate management and maintenance services at the new housing location.
