As used in this article, the following terms shall have the
meanings indicated:
AFFORDABLE HOUSING DEVELOPMENT
A development included in the Housing Element and Fair Share
Plan, and includes, but is not limited to, an inclusionary development,
a municipal construction project or a one-hundred-percent affordable
development.
COAH or THE COUNCIL
The New Jersey Council on Affordable Housing established
under the Fair Housing Act.
DEVELOPER
The legal or beneficial owner or owners of a lot or of any
land proposed to be included in a proposed development, including
the holder of an option or contract to purchase, or other person having
an enforceable proprietary interest in such land.
DEVELOPMENT FEE
Money paid by a developer for the improvement of property
as permitted in N.J.A.C. 5:93-8.
EQUALIZED ASSESSED VALUE
The assessed value of a property divided by the current average
ratio of assessed to true value for the municipality in which the
property is situated, as determined in accordance with Sections 1,
5 and 6 of P.L. 1973, c. 123 (N.J.S.A. 54:1-35a through 54:1-35c).
GREEN BUILDING STRATEGIES
Those strategies that minimize the impact of development
on the environment, and enhance the health, safety and well-being
of residents by producing durable, low-maintenance, resource-efficient
housing while making optimum use of existing infrastructure and community
services.
On an annual basis commencing with the first anniversary of
the entry of the order granting a final judgment of compliance and
repose to Garwood, the Borough of Garwood shall report all activity
in connection with its Affordable Housing Trust Fund to the New Jersey
Department of Community Affairs [either the Division of Local Government
Services or the Council on Affordable Housing (COAH), whichever entity
is designated by the State of New Jersey], with a copy provided to
Fair Share Housing Center and to the intervenors/defendants in In
the Matter of the Application of the Borough of Garwood, Docket No.:
MID-L-4012-15, and with a posting of same on the municipal website,
using forms previously developed for this purpose by COAH. The reporting
shall include all sources and amounts collected/earned and the amounts
and purposes for which funds have been expended.
The ability for the Borough of Garwood to impose, collect and
expend development fees shall expire with its judgment of compliance
and repose unless the Borough of Garwood has filed an adopted Housing
Element and Fair Share Plan with the court or with COAH or its successor
agency designated by the State of New Jersey, has petitioned for a
judgment of compliance and repose or substantive certification, and
has received the court's or COAH's approval of its development fee
ordinance. If the Borough of Garwood fails to renew its ability to
impose and collect development fees prior to the expiration of its
judgment of compliance and repose, it may be subject to forfeiture
of any or all funds remaining within its municipal trust fund. Any
funds so forfeited shall be deposited into the New Jersey Affordable
Housing Trust Fund established pursuant to Section 20 of P.L. 1985,
c. 222 (N.J.S.A. 52:27D-320). The Borough of Garwood shall not impose
a residential development fee on a development that receives preliminary
or final site plan approval after the expiration of its judgment of
compliance and repose, nor shall the Borough of Garwood retroactively
impose a development fee on such a development. The Borough of Garwood
shall not expend development fees after the expiration of its judgment
of compliance and repose.