Fees collected pursuant to this Article
XV shall be used for the sole purpose of providing authorized lower-income housing assistance. This Article
XV shall continue to be interpreted consistent with COAH's prior rules on development fees, as codified in N.J.A.C. 5:97-8 and applicable judicial principles.
The following terms, as used in this Article
XV, shall have the following meanings:
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 100% affordable development.
COAH or THE COUNCIL
The New Jersey Council on Affordable Housing established
under the Act, which has primary jurisdiction for the administration
of housing obligations in accordance with sound regional planning
considerations in the state.
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. 5:97-8.3.
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.
The Township of Livingston will complete and return to COAH
all monitoring forms included in monitoring requirements related to
the collection of development fees from residential and nonresidential
developers, payments in lieu of constructing affordable units on site,
funds from the sale of units with extinguished controls, barrier-free
escrow funds, rental income, repayments from affordable housing program
loans, and any other funds collected in connection with the Township
of Livingston's affordable housing program, as well as to the expenditure
of revenues and implementation of the plan approved by the Court.
All monitoring reports will be completed on forms designed by COAH.