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Saturday, June 15, 2024

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West Cape May Starting Accessory Apartment Program

 

By Jack Fichter

WEST CAPE MAY —The borough has announced a new Accessory Apartment Program as part of its affordable housing obligation.
The Borough’s affordable housing plan creates rental units that will be affordable to very low, low, and moderate-income households. Dedicated Affordable Housing Trust Funds will be used to help implement the program in order to create these rental units.
Accessory apartments are self-contained residential dwelling units, which may be located in an existing home, through the conversion of an existing accessory structure on the same site, an addition to an existing home or accessory building or through new construction of a new accessory apartment on site. Only 10 Accessory Apartment special permits will be issued for the entire program.
Applications are currently being accepted from property owners who wish to participate in the program. The borough will provide a lump sum payment up to $75,000 per unit to subsidize the creation of a very low-income accessory apartment, a lump sum payment up to $45,000 per unit to subsidize the creation of a low-income accessory apartment and a lump sum payment of up to $35,000 per unit to subsidize the creation of a moderate-income accessory apartment.
Property owners will be required to deed restrict the units for 15 years so that the household renting the unit will pay an affordable rent as determined by the state Council on Affordable Housing.
“The Accessory Apartment Program will provide property owners the opportunity to create rental income on their property where zoning law may currently prohibit multiple units while at the same time, providing affordable housing options for residents” said Mayor Pam Kaithern.
All eligible sites must have access to sewer and water. Interested property owners should contact Lorissa Whitaker, Senior Associate at Triad Associates at (856) 690-5749 or via email at lwhitaker@triadincorporated.com to obtain information about the program. Program flyers will also be available at the West Cape May Borough Municipal Building.
Prospective tenants will be required to complete a preliminary application. Subsequently, a lottery will be held to randomly select tenants, who will have to qualify under the State’s Income Eligibility Guidelines.

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