The following terms when used in this article shall have the
meanings given in this section:
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 municipally sponsored construction project or a 100% affordable
housing development.
COUNCIL or COAH
The New Jersey Council on Affordable Housing established
under the Fair Housing Act of 1985, or any successor agency charged with the administration
of the Act.
COURT
The Superior Court of New Jersey, Law Division, Morris County.
DEVELOPER
The legal or beneficial owner or owners of a lot or of 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.
DEVELOPMENT FEES
Money paid by a developer for the improvement of property
as authorized by Holmdel Builder's Association v. Holmdel Borough,
121 N.J. 550 (1990) and the Fair Housing Act of 1985, N.J.S.A. 52:27D-301
et seq., and regulated by applicable COAH rules.
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).
The Township of Denville shall provide annual reporting of Affordable
Housing Trust Fund activity to the New Jersey Department of Community
Affairs, COAH and Local Government Services or other entity designated
by the State of New Jersey, using forms developed for this purpose
by the New Jersey Department of Community Affairs, COAH or Local Government
Services.