MILLSTONE – A $1 million federal grant has been awarded to Millstone Township to help fund the development of a site on Novad Court that will be used for affordable housing.
Novad Court is off Route 537 in the vicinity of Six Flags Great Adventure in neighboring Jackson. The property for the planned affordable housing development at 6 Novad Court is owned by Millstone.
Municipal officials announced the township had received the $1 million grant from the National Housing Trust Fund during a Township Committee meeting on Aug. 3.
The township was notified of the National Housing Trust Fund grant through an email from the Affordable Housing Alliance (AHA), Neptune.
The AHA is a nonprofit corporation that works with municipalities in New Jersey to assist with affordable housing compliance. Millstone officials have appointed the AHA to serve as the township’s affordable housing administrator.
In March, committee members authorized the execution of an affordable housing agreement with the AHA.
Under the terms of the agreement, the AHA will facilitate the construction, ownership, operation and management of the Novad Court project, which will provide three affordable housing units.
In New Jersey, 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, (10 affordable housing units for seniors); the Allen House II, Stagecoach Road, (10 affordable housing units for seniors); and the Millstone House Apartments, Burnt Tavern Road, (four affordable housing units).
According to municipal officials, 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 a resolution.
Municipal officials have provided an exemption from property taxes for the Novad Court property so income that is generated from the site can be used to provide appropriate management and maintenance services at the new housing location.