Princeton has long said its city is a great place to live, work, and raise children. Now, they are ready to put their money where their mouth is.
Princeton City Council voted Monday to authorize Mayor Kota Young to create an incentive pilot program for residential developers inside the city limits. The city will use $100,000 of the nearly $1.6 million awarded through the American Rescue Plan Act.
click to download audioYoung said the there are 200 jobs available at businesses and industries in Princeton, the lack of available and affordable housing in the city keeps those jobs unfilled.
click to download audioCity Councilman Brian Conger agreed with the mayor and added the pilot program would be beneficial.
click to download audioThe mayor feels like Princeton is often overlooked by developers despite its friendly approach to growth.
click to download audioYoung told the council he has been researching programs in other communities to try and figure out the best way Princeton can benefit from the creation of the program.
click to download audioPrinceton City Attorney Todd Wetzel said details of the program would need to be finalized but felt it could move forward.
Young said he was encouraged by US Census reports that showed little turnover in the city’s population over the past two years.
