As used in this article, the following terms shall have the
meanings indicated:
COAH
The New Jersey Council on Affordable Housing.
DEVELOPMENT FEES
Money paid by an individual, person, partnership, association,
company or corporation for the improvement of property as permitted
in 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 ratio or ratios required by law.
Estimates at the time of building permit may be obtained by the Tax
Assessor utilizing estimates for construction costs. Final equalized
assessed value will be determined at project completion by the Municipal
Tax Assessor.
JUDGMENT OF REPOSE
A judgment issued by the Superior Court approving a municipality's
plan to satisfy its fair share obligation.
SUBSTANTIVE CERTIFICATION
A determination by the Council approving a municipality's
Housing Element and Fair Share Plan in accordance with the provisions
of the Act and the rules and criteria as set forth herein. A grant
of substantive certification shall be valid for a period of six years
in accordance with the terms and conditions contained therein.
The Town of Dover shall not spend development fees until COAH
has approved a plan for spending such fees.
Imposed and collected development fees that are challenged shall
be placed in an interest-bearing escrow account by the Town of Dover.
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 Town of Dover 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. All
monitoring reports shall be completed on forms designed by COAH.
The ability for the Town of Dover to impose, collect and expend
development fees shall expire with its substantive certification on
the date of expiration of its substantive certification, unless the
Town of Dover 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
the Town of Dover fails to renew its ability to impose and collect
development fees prior to the date of expiration of substantive certification,
it may resume the imposition and collection of development fees only
by complying with the requirements of this section. The Town of Dover
shall not impose a development fee on a development that receives
preliminary or final approval after the date of expiration of substantive
certification, nor will the Town of Dover retroactively impose a development
fee on such a development. The Town of Dover will not expend development
fees after the date of expiration of substantive certification.