By DON STINE
Ocean Township’s Affordable Housing Trust Fund will get a real financial shot in the arm now that a 75-unit residential development in the western section of the township is starting to be built and occupied.
The Enclave, a Toll Brothers development off West Park Avenue, has 75 single-family homes for seniors and, now that they are being occupied, money will start to flow into the affordable housing fund,
The developer has agreed to contribute $24,000 per unit to the fund, which will eventually be used if the township needs to develop more affordable housing under a state mandate.
Mayor Christopher Siciliano said that the first $72,000 contribution is based on six homes receiving their certificates of occupancy. The other $24,000 payments will be made as a permit is issued to build a new house, for an eventual total of $1.8 million.
The mayor said there is already $961,000 in the Affordable Housing Trust Fund.
The Shade Tree Commission will also get a financial boost, with the developer’s agreement requiring a $131,250 contribution. Out of the 80-acre site, about 20 acres were developed and the payment is primarily for removing trees from the site.
Siciliano said the site was originally proposed to have 498 apartments.
“Now there are only 75 single-family, age-restricted homes for seniors, that will have no impact on the school system,” he said.
Some residents had recently questioned the payments and if they were being made.
“So far (Toll Brothers) is 100 percent compliant and on time. There is nothing nefarious going on here. Everything is going as promised and as per the agreements,” Siciliano said.