Business View Magazine | December 2020

346 BUSINESS VIEW MAGAZINE DECEMBER 2020 does not have any CoAH housing obligations, but it does want to help its residents. Developers must pay 2-3 percent of the cost of the building (which could be hundreds of thousands of dollars) into a fund, managed by the township, that helps residents fix their existing homes and increase their property value. When the current projects are finished there will be more than $900,000 in the fund and the township is currently looking to vet local contractors to carry out work on homes throughout Belleville. Residents who meet income requirements can access the funds by applying to the municipality; those who qualify can take the funds as a loan, but if they remain in their homes for a certain number of years the loan can be forgiven. Mayor Melham notes, “It’s a huge asset, which is a by-product of all the residential development we have going on. So this residential development brings rateables in, which is great, but it also brings in secondary See what’s possible SUCCESS DRIVEN BY EXPERIENCE, SKILL AND CREATIVITY Obtaining great results originates from the ability to view issues from diverse perspectives. Our decades of experience providing insightful and strategic legal counsel deliver business solutions time and again. Let CSG transform your vision into reality. CHIESA SHAHINIAN & GIANTOMASI PC NEW JERSEY NEW YORK CSGLAW.COM (973) 325-1500 Prior results do not guarantee a similar outcome.