Municipalities zoning for inclusionary development shall require
low- and moderate-income housing units to be built in accordance with
the following schedule:
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%
|
—
|
100%
|
The developer shall prepare a master deed for the inclusionary
development which establishes condominium or home ownership fees or
special assessments of low- and moderate-income purchasers at 67%
of those paid by market purchasers. This 67% is consistent with the
requirement of N.J.A.C. 5:93-7.4(e). Once established within the master
deed, the percentage shall not be amended without COAH approval.