Resolution of the Mayor and Council of Princeton Authorizing the Housing Initiatives of Princeton Charitable Trust: Extension of Property Lease and Management Agreement for 132 Brickhouse Road

Summary

This resolution authorizes the extension of a Property Lease and Management Agreement for the property located at 132 Brickhouse Road, Princeton, New Jersey. The extension is between the Municipality of Princeton and the Housing Initiatives of Princeton Charitable Trust (HIPCT). The lease term is extended from January 1, 2026, to December 31, 2026. The property is a deed-restricted affordable housing unit used by HIPCT to provide transitional housing for lower-income individuals and families. All previous terms and conditions of the original lease, hold harmless agreement, and associated attachments remain in effect, including adherence to Washington Oaks Homeowners Association regulations.

Citizen Impact

This action ensures the continued availability of transitional affordable housing at 132 Brickhouse Road for individuals and families in need through December 31, 2026. Residents utilizing this housing will experience no immediate changes in their occupancy.

Confidence

high