This Ordinance 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 Ordinance shall be used for the sole purpose of providing
very-low-, low- and moderate-income housing.
The following terms, as used in this Ordinance, shall have the
following meanings:
AFFORDABLE HOUSING DEVELOPMENT
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
housing 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 authorized by Holmdel Builder's Association v. Holmdel Township,
121 N.J. 550(1990) and the Fair Housing Act of 1985, N.J.S.A. 52:27d-301,
et seq., and regulated by applicable COAH Rules.
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 N.J.S.A. 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.
The Township of Holland shall provide annual reporting of Affordable
Housing 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. The
reporting shall include an accounting of all Affordable Housing Trust
Fund activity, including the amounts of 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
Township), funds from the sale of units with extinguished controls,
barrier-free escrow funds, rental income from Township-owned affordable
housing units, repayments from affordable housing program loans, and
any other funds collected in connection with Holland's affordable
housing programs, as well as an accounting of the expenditures of
revenues.