I'm confused. I keep reading about how difficult it is for towns and states to stay within their budgets, and how many services might have to be cut, but then I read about towns like Wyckoff, NJ and Franklin Lakes, NJ buying up land so it doesn't get developed. Now, don't misunderstand --- I am 100% in favor of nipping over-development in the bud. I just want to know where all this money is coming from. Both towns have tried to keep tax increases to a minimum, and have avoided cutting services (so far), but how is that possible when you have to reach into the kitty to pay for "luxuries?" (note: a luxury is anything expensive that you don't need.)
The Borough of Franklin Lakes agreed to purchase from Temple Emmanul 14 acres at the corner of McCoy and Colonial Roads. "The purchase price of $2,000,000 will be funded with the Borough’s Affordable Housing Trust Fund, after satisfying the terms of the agreement including the Borough’s receipt of authorization from the Council on Affordable Housing (COAH), an agency of the State of New Jersey" according to the town. "This fund has been accumulated over many years from State mandated development fees charged on new construction in the Borough and can only be used for COAH projects and related needs. Hence, no additional taxpayer funds are being used in the procurement of this property."
No one seems to know what the town has planned for the property, but it will have to conform to COAH regulations which may mean construction of affordable housing. As you might expect, neither Wyckoff nor Franklin Lakes has much in the way of affordable housing which may mean COAH will exert pressure to make them do their share. The town has discussed special needs housing and will be looking into that possibility. It would certainly benefit both the town and its residents if they also considered senior housing, and even an assisted care complex. Even well to do people get old.
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