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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>news</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Oct 19 2007, 7:17 pm EDT<span class="gen"> </span> Post subject: Township to apply for affordable housing funds</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Township to apply for affordable housing funds <br /> <br />Friday, October 19, 2007 11:56 AM EDT <br />By Maria Prato-Gaines <br /> <br /> CRANBURY — The township is ready to apply for a state reimbursement that will help cover the cost of buying land needed for affordable housing. <br /> <br /> The municipal land acquisition funds are acquired through the Department of Community Affair’s Division of Housing. <br /> <br /> According to Township Attorney Triska Waterbury, the funds provide financial and technical assistance to municipalities seeking to “secure land and/or property, cover most of its project costs and create a project that fits the town’s vision.” <br /> <br /> The money will be used to offset $1 million used in June to buy a 4-acre parcel at 2665 Route 130, Ms. Waterbury said. <br /> <br /> ”The total amount we’re seeking in reimbursement for the acquisition is $1,000,500, and about $36,000 in soft cost,” Ms. Waterbury said. <br /> <br /> Soft costs could include hiring engineering and environmental assessors, among other things, she said. <br /> <br /> Cranbury is among the communities in the state that is mandated to provide for affordable housing under the state Supreme Court’s Mount Laurel ruling. <br /> <br /> The township expects to build between 29 and 48 unites on the site, said Kathleen Grady, a planner working for Clarke Caton and Hintz, an architecture and planning firm hired to prepare the application. <br /> <br /> As part of Cranbury’s third round of affordable housing requirements, the township is required to plan for 160 affordable units. <br />... <br /><a href="http://www.packetonline.com/articles/2007/10/19/cranbury_press/news/doc4718d20f18650304502457.prt" target="_blank">http://www.packetonline.com/articles/2007/10/19/cranbury_press/news/doc4718d20f18650304502457.prt</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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