The following terms, as used in this article, 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 one-hundred-percent 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
consideration 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 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.
Clinton Town shall 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 Clinton Town's housing
program, as well as to the expenditure of revenues and implementation
of the plan approved by the court. All monitoring reports shall be
completed on forms designed by COAH.
The ability for Clinton Town to impose, collect and expend development
fees shall expire with its judgment of compliance unless Clinton Town
has filed an adopted Housing Element and Fair Share Plan with COAH,
has petitioned for substantive certification, and has received COAH's
approval of its development fee ordinance. If Clinton Town fails to
renew its ability to impose and collect development fees prior to
the expiration of judgment of compliance, it may be subject to forfeiture
of any or all funds remaining within its municipal trust fund. Any
funds so forfeited shall be deposited into the "New Jersey Affordable
Housing Trust Fund" established pursuant to section 20 of P.L.1985,
c.222 (N.J.S.A. 52:27D-320). Clinton Town shall not impose a residential
development fee on a development that receives preliminary or final
site plan approval after the expiration of its substantive certification
or judgment of compliance, nor shall Clinton Town retroactively impose
a development fee on such a development. Clinton Town shall not expend
development fees after the expiration of its substantive certification
or judgment of compliance.