Housing Plan Element & Fair Share Plan - Adopted June 14, 2022

This document outlines the Borough of Roosevelt's Housing Plan Element and Fair Share Plan, adopted on June 14, 2022, to address affordable housing obligations. It supersedes the previous plan from 2001 and addresses cumulative fair share obligations from 1987 through 2025, considering provisions of the New Jersey Council on Affordable Housing (COAH) and relevant court decisions. The plan includes an assessment of the borough's demographic and housing characteristics, identifying land suitable for affordable housing, and strategies for meeting affordable housing needs, recognizing the borough's historic designation and environmental constraints. The Fair Share Plan details Roosevelt Borough’s Rehabilitation Obligation, Prior Round Obligation (1987-1999), and Gap + Obligation and Prospective Need or Third Round Obligation (1999-2025). The plan proposes mechanisms for which the Borough can realistically provide opportunities for affordable housing for moderate-, low-, and very low- income households. A key component is the calculation of the Realistic Development Potential (RDP), which accounts for limited developable land due to environmental restrictions and historic preservation. The document provides a comprehensive strategy for addressing affordable housing obligations within the unique context of Roosevelt Borough's historical and environmental landscape. The conclusion of the vacant land inventory is that there are 11 potential properties in the Borough that are vacant, farmland or underdeveloped. Of that number all met the listed exclusions and resulted in a potential affordable set-aside of zero (0) units. The resulting Realistic Development Potential (RDP) for the Borough of Roosevelt is therefore 0 affordable units.