Definitions. For purposes of this Article
XI, the following terms are defined as follows:
AFFORDABLE UNIT
A housing unit, the sale or rental price of which is established
in accordance with this section and which will be sold or rented to
a low- or moderate-income family. "Affordable unit" shall be synonymous
with the term "lower-income housing unit."
FAMILY
One or more persons living as a single nonprofit housekeeping
unit whether or not related by blood, marriage or otherwise. "Family"
shall also be synonymous with "household."
FORECLOSURE
A termination through legal process of all rights of a mortgagor
or a mortgagor's assigns or grantees in a unit covered by a recorded
mortgage or through a deed in lieu of foreclosure which has been executed
prior to a judicially regulated sale.
IMPROVEMENTS
Additions within a unit, including materials, supplies, appliances
or fixtures which become a permanent part of, or affixed to, a unit.
INCLUSIONARY DEVELOPMENT
A residential housing development in which a specific percentage
of the housing units is provided for a reasonable income range of
low- and moderate-income households as defined and regulated herein.
INCOME
All income, from all sources, for all members of a household
occupying a low- or moderate-income unit. "Income" shall include compensation
for employment services, interest, rents, dividends, pension benefits
and government benefits.
LOW-INCOME FAMILY
A family whose income is no greater than 50% of the median
family income of Newark PMSA, with adjustments for family size. The
Township shall qualify prospective purchasers of affordable units
as low-income families prior to the developer's selling an affordable
unit to a prospective purchaser.
MARKET UNIT
Any unit in an inclusionary development which is not designated
an affordable unit.
MEDIAN FAMILY INCOME
The annual median family income figure for Newark PMSA as
computed, published and adjusted for household size by the Council
on Affordable Housing (COAH).
MODERATE-INCOME FAMILY
A family whose income is no greater than 80% and no less
than 50% of the median family income of Newark PMSA, with adjustments
for family size. The Township shall qualify prospective purchasers
of an affordable unit as moderate-income families prior to the developer
selling an affordable unit to a prospective purchaser.
MUNICIPAL HOUSING LIAISON
The Municipal Housing Liaison appointed by the Morris Township
governing body pursuant to this section.
QUALIFIED PURCHASER
A person, pursuant to this section:
(1)
Who submits an application for certification
as a qualified purchaser to the Municipal Housing Liaison;
(2)
Whose family income at the time of the proposed
purchase is within low- or moderate-income levels, as these income
levels are defined herein; and
(3)
Who obtains certification as a qualified purchaser
from the Municipal Housing Liaison pursuant to this section and the
rules and regulations of the Township. Once a qualified purchaser
becomes an owner in accordance with the provisions of this section,
any increase or decrease in the family income of such owner shall
not affect the owner's rights, privileges or obligations.
STATEMENT OF EXEMPTION
A statement issued by the Housing Advisory Council confirming
that the occupant or intended occupant need not meet the income qualifications
for low- and moderate-income housing. The housing unit, however, regardless
of its occupant, shall remain affordable for at least 30 years from
the date of the initial sale or initial lease.