[Adopted 3-13-2008 by Ord. No. 2008-04]
The Township Committee finds that the New Jersey
Council on Affordable Housing has adopted rules, N.J.A.C. 5:94 et
seq. and N.J.A.C. 5:95 et seq. and will continue to adopt similar
rules and regulations for the third round methodology and to implement
a growth share obligation. The Township Committee finds that all developers
of property in the Township of South Hackensack, whether for residential,
commercial or industrial, should be required to provide for the affordable
housing obligation on the present or future basis of the growth share
or other such methodology adopted by the New Jersey Council on Affordable
Housing.
All developers of property for more than three
residential units, any commercial use or any industrial use in the
Township of South Hackensack shall be required to provide for their
fair share of the affordable housing obligation of the Township of
South Hackensack or resulting from their development, which shall
be calculated in accordance with the present or future growth share
methodology adopted by the New Jersey Council on Affordable Housing,
as amended. The developer may do so by any method established, directed
or approved by the New Jersey Council on Affordable Housing as agreed
upon by the Township Committee.
Said compliance will be by actual construction
of housing units, a contribution in lieu of constructing the units
if permitted, or any other arrangements or mechanisms approved by
the New Jersey Council on Affordable Housing and agreed upon by the
Township Committee. This obligation shall be a condition and becomes
part of any developmental approvals, and shall be memorialized in
a developer's agreement with sufficient and appropriate guarantees
or conditions of performance.
