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Paramus OKs Affordable Housing Plan

Paramus passed an affordable housing ordinance.
Paramus passed an affordable housing ordinance. Photo Credit: Cindy Capitani/123RF Stock

PARAMUS, N.J. -- A four hour special meeting on Monday resulted in the Paramus Mayor and Council passing an ordinance to plan for affordable housing, reports northjersey.com.

The state's mandate has yet to be determined but the ordinance requires a 10 percent set-aside or payments in lieu of construction, reports northjersey.com.

Payments would be $180,000 per unit, with funds deposited in the borough's affordable housing trust fund, reports northjersey.com.

Click here to read the story on northjersey.com.

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