This article of the City Code sets forth regulations
regarding the low- and moderate-income housing units in the City consistent
with the provisions known as the "Substantive Rules of the New Jersey
Council on Affordable Housing for the period beginning December 20,
2004," N.J.A.C. 5:94 et seq., the Uniform Housing Affordability Controls,
N.J.A.C. 5:80-26.1 et seq., and the City's constitutional obligation
to provide a fair share of affordable housing for low- and moderate-income
households. These regulations are also intended to provide assurances
that low- and moderate-income units (the "affordable units") are created
with controls on affordability over time and that low- and moderate-income
people occupy these units. These regulations shall apply except where
inconsistent with applicable law.
Except for affordable housing developments constructed
pursuant to low-income tax credit regulations:
A. At least half of the for sale affordable units within
each affordable housing development shall be affordable to low-income
households.
B. At least half of the rental affordable units within
each affordable housing development shall be affordable to low-income
households.
C. At least half of the affordable units in each bedroom
distribution within each affordable housing development shall be affordable
to low-income households.
Median income by household size shall be established
using a regional weighted average of the uncapped Section 8 income
limits published by HUD computed as set forth in N.J.A.C. 5:94-7.2.
If an affordable housing unit is part of a condominium
association or homeowners' association, the master deed shall reflect
that the assessed affordable homeowners' fee be established at 100%
of the market rate fee. This percentage assessment shall be recorded
in the master deed.
Upon resale of an affordable unit, a certificate
of reoccupancy shall be required in accordance with N.J.A.C. 5:80-26.10.
Final site plan or subdivision approval shall
be contingent upon the affordable housing development meeting the
following phasing schedule for low- and moderate-income units whether
developed in one stage or in two or more stages.
Minimum Percentage of Low- and
Moderate-Income Units Completed
|
Percentage of Market
Housing Units Completed
|
---|
0
|
25
|
10
|
25 + 1 unit
|
50
|
50
|
75
|
75
|
100
|
90
|
Any conveyance of a newly constructed low- or
moderate-income sales unit shall contain the restrictive covenants
and liens that are set forth in N.J.A.C. 5:80-26 et seq.