[Adopted 5-21-2007 by Ord. No. 8-2007]
In Holmdel Builder's Association v. Holmdel Township, 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 the Council on Affordable Housing's
(COAH's) adoption of rules. This article establishes 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 article shall
be interpreted within the framework of COAH's rules on development fees.
The Borough of Tuckerton shall not spend development fees until COAH
or the court has approved a plan for spending such fees and the Borough of
Tuckerton has received third-round substantive certification from COAH or
a judgment of compliance from the court. This article shall be subject to
the provisions of any affordable housing growth share ordinance adopted by
the Borough.
The following terms, as used in this article, shall have the following
meanings:
AFFORDABLE HOUSING DEVELOPMENT
A development included in the Borough's 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 development.
COAH
The New Jersey Council on Affordable Housing.
DEVELOPMENT FEE
Funds paid by an individual, person, partnership, association, company
or corporation for the improvement of property as permitted by 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 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.
Fifty percent of the development fee will be collected at the time of
issuance of the building permit. The remaining portion will be collected at
the issuance of the certificate of occupancy. The developer shall be responsible
for paying the difference between the fee calculated at building permit and
that determined at issuance of certificate of occupancy.
Imposed and collected development fees that are challenged shall be
placed in an interest-bearing escrow account by the Borough of Tuckerton.
If all or a portion of the contested fees are returned to the developer, the
accrued interest on the returned amount shall also be returned.
The Borough of Tuckerton shall complete and return to COAH all monitoring
forms included in the annual monitoring report related to the collection of
development fees from residential and nonresidential developers, payments
in lieu of constructing affordable units on site, and funds from the sale
of units with extinguished controls, and the expenditure of revenues and implementation
of the plan certified by COAH or approved by the court. All monitoring reports
shall be completed on forms designed by COAH.