The Borough of Stanhope Fair Share Plan, dated
June 10, 1996, amending and supplementing the Housing Plan Element
of the 1994 Master Plan, is hereby adopted by reference and shall
hereby constitute a part of this chapter. All provisions of this chapter,
whether adopted heretofore or hereafter, shall be construed in harmony
with the Fair Share Plan.
The properties designated as Block Number 10302,
Lot Number 2, and Block Number 10307, Lot Number 2, as designated
on the Tax Map of the Borough of Stanhope, shall be donated by the
Borough pursuant to N.J.S.A. 52:27D-135 to not-for-profit organizations
(hereinafter "donee-sponsor") to develop housing units for persons
of low- and moderate-income. Said properties shall be deed restricted
for use by low- and moderate-income persons for not less than 30 years
from the date of the donation. The aforesaid properties are located
in the medium density residential zone and are currently fully conforming
to the requirements of said zone for residential development purposes.
Notwithstanding any other provisions of this chapter, or any subsequent
amendment hereto, said properties shall be considered to be fully
conforming for residential development purposes pending their development
by the appropriate donee-sponsor for residential development for low-
and moderate-income persons.
In Holmdel Builder's Association v Holmdel,
121 N.J. 550 (1990), the New Jersey Supreme Court determined that
mandatory development fees are authorized by the Fair Housing Act
of 1985, N.J.S.A. 52:27D-301 et seq., and the State Constitution subject
to Council on Affordable Housing developing rules. The purpose of
this article is to establish standards for the collection, maintenance
and expenditure of development fees pursuant to COAH's rules. Fees
collected pursuant to this article shall be used for the sole purpose
of providing low- and moderate-income housing. This section shall
be interpreted within the framework of COAH's rules on development
fees.
As used in this chapter, the following terms
shall have the meaning indicated:
COAH
The New Jersey Council on Affordable Housing.
DEVELOPMENT FEES
Money paid by an individual, person, partnership, association,
company or corporation for the improvement of property as permitted
in COAH's rules.
EQUALIZED ASSESSED VALUE
The value of a property determined by the Municipal Tax Assessor
through a process designed to ensure that all property in the municipality
is assessed at the same assessment ratio or ratios required by law.
Estimates at the time of issuance of a building permit may be obtained
utilizing estimates for construction cost. Final equalized assessed
value will be determined at project completion by the Municipal Tax
Assessor.
JUDGMENT OF REPOSE
A judgment issued by the Superior Court approving a municipality's
plan to satisfy its fair share obligation.
SUBSTANTIVE CERTIFICATION
A determination by COAH approving a municipality's housing
element and fair share plan in accordance with the provisions of the
Fair Housing Act and the rules and criteria as set forth herein. A
grant of substantive certification shall be valid for a period of
six years in accordance with the terms and conditions therein.
Developers that are required to pay the development
fees as provided for in this article shall pay the fee in effect at
the time the developer applies for its building permits. Such payments
are to be made in accordance with the following schedule:
A. Developers shall pay 50% of the calculated development
fee to the Borough of Stanhope at the issuance of building permits.
The developer shall submit to the Housing Officer an estimate of the
assessed value of the new construction and lot to be verified if required
by the Tax Assessor.
B. Developers shall pay the remaining fee to the Borough
of Stanhope at the issuance of certificates of occupancy. At the issuance
of certificates of occupancy, the Tax Assessor shall calculate the
equalized assessed value and the appropriate development fee. The
developer (or owners upon default) shall be responsible for paying
the difference between the fee calculated at certificates of occupancy
and the amount paid at building permit.
The Borough shall complete and return to COAH
all monitoring forms related to the collection of development fees,
expenditures of revenues and implementation of the spending plan certified
by COAH. Quarterly financial reports and annual program implementation
and auditing reports shall be completed by the Borough on forms designed
by COAH.
This article shall expire if:
A. COAH dismisses or denies the Borough's petition for
substantive certification.
B. The Borough's substantive certification is revoked.
C. The substantive certification expires prior to the
Borough's filing an adopted housing element with COAH, petitioning
for substantive certification or receiving COAH's approval of this
article.