Hoboken could make this change to its affordable housing policy this week

News Network
Dec 2, 2019 3:35 PM
A years-long effort to increase affordable housing in Hoboken could culminate this week.An amendment scheduled for a City Council vote Wednesday would increase the required portion of new developments for affordable housing from 10% to 15%. It would also broaden which developments must set aside a fifth of its units as affordable, mandating that any project that receives financing or subsidies from the state fulfill the 20% quota.“Over time it will make a difference,” said Councilwoman Vanessa Falco, who introduced the amendment and has been working on it for about two years. “We can’t just si...
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