The following terms, as used in this chapter, 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 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.
DEVELOPMENT FEE
Money paid by a developer for the improvement of property
as permitted in N.J.A.C. 5:97-8.3.
DEVELOPER
The legal or beneficial owner or owners of a lot or 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.
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 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.
Ramsey 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 Ramsey's housing program, as well
as to 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 Ramsey to impose, collect and expend development
fees shall expire with its substantive certification unless Ramsey
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 Ramsey fails to renew
its ability to impose and collect development fees prior to the expiration
of its substantive certification, 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). Ramsey 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 Ramsey retroactively impose a
development fee on such a development. Ramsey shall not expend development
fees after the expiration of its substantive certification.