|Responsibilities: Working with the housing administrator to review and select qualified applicants for the sale of affordable units.
Structure: 7 Members - 3 Year Terms after initial staggered - Appointment Mayor/Council Confirmation, Chairman Mayor/Council Confirmation, Other Officers Board Appointed.
|Peter Smith||Council Liaison||2018|
What is Affordable Housing? Affordable housing is a term used to describe dwelling units whose total housing costs are deemed "affordable" to those that have a median income. The Borough of Roseland focuses on the affordability of owner-occupied and private rental housing as social housing is a specialized tenure. Affordable housing in Roseland was available at the Eagle Rock and Roseland Green town house projects.
In the United States and Canada, a commonly accepted guideline for housing affordability is a housing cost that does not exceed 30% of a household's gross income. Housing costs considered in this guideline generally include taxes and insurance for owners, and usually include utility costs. When the monthly carrying costs of a home exceed 30–35% of household income, then the housing is considered unaffordable for that household.