This section establishes standards for the collection, maintenance,
and expenditure of development fees that are consistent with COAH's
regulations developed in response to P.L. 2008, c. 46, Sections 8
and 32-38 (N.J.S.A. 52:27D-329.2) and the Statewide Non-Residential
Development Fee Act (N.J.S.A. 40:55D-8.1 through 8.7). Fees collected
pursuant to this chapter shall be used for the sole purpose of providing
very-low-, low- and moderate-income housing in accordance with a Court-approved
spending plan.
On or about April 2 of each year through 2025, the Borough of
Haddonfield shall provide annual reporting of trust fund activity
to the State of New Jersey, Department of Community Affairs, Council
on Affordable Housing or Local Government Services, or other entity
designated by the State of New Jersey, with a copy provided to FSHC
and posted on the Borough's website, using forms developed for
this purpose by the DCA, COAH, or NJLGS. This reporting shall include
an accounting of all Affordable Housing Trust Fund activity, including
the sources and amounts of all funds collected and the amounts and
purposes for which any funds have been expended. Such reporting shall
include an accounting of development fees collected from residential
and nonresidential developers, payments in lieu of constructing affordable
units on site (if permitted by ordinance or by agreement with the
Borough), funds from the sale of units with extinguished controls,
barrier-free escrow funds, rental income from Borough-owned affordable
housing units, repayments from affordable housing program loans, and
any other funds collected in connection with Haddonfield's housing
programs, as well as an accounting of the expenditures of revenues
and implementation of the Spending Plan approved by the Court.