The City of Summit is announcing a fairness hearing on the Fair Share Housing Center agreement will take place on October 31 in Elizabeth, NJ.
At its October 5 meeting, Common Council unanimously approved a settlement agreement with Fair Share Housing Center (FSHC) to establish additional affordable housing in Summit. The settlement agreement is the result of negotiations between attorneys for the city and the FSHC, and will provide incentives for private developers to construct additional housing without the use of city funds.
“It is a strong priority to establish housing for current and prospective residents at varying income levels and all stages of life,” explains Summit Mayor Nora Radest. “We want to promote diversity, encourage young families to move here and make it affordable for retirees to downsize and stay. This agreement is an important step forward for Summit and an integral part of our 10-year implementation plan for affordable housing.”
Longtime affordable housing advocate and Summit resident Vito Gallo reports: “This settlement agreement will provide a significant incentive for private property owners and housing developers to construct multi-family housing for rental and ownership for all income groups with a percentage set aside for low and moderate income households. The Settlement provides the road map for Summit to follow to maintain our community's diversity in the coming decade."
For more information on the schedule for the fairness hearing on the Fair Share Housing Center agreement, please click here. The Union County Courthouse is located at 2 North Broad Street in Elizabeth, NJ 07201.