The following terms, as used in this article, 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 the COUNCIL
The New Jersey Council on Affordable Housing established
under the Fair Housing Act, which previously had primary jurisdiction
for the administration of housing obligations in accordance with sound
regional planning consideration in the state. Pursuant to the Executive
Reorganization Act of 1969, P.L. 1969, c. 203 (N.J.S.A. 52:14C-1 et
seq.), the Governor abolished the Council and transferred all functions,
powers, and duties to the Commissioner of the Department of Community
Affairs, effective August 29, 2011. As such, any and all references
to COAH shall mean the Department.
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 FEE
Money paid by a developer for the improvement of property
as permitted in N.J.A.C. 5:93.
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 Borough of Bradley Beach 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 the Borough
of Bradley Beach's housing program, as well as to the expenditure
of revenues and implementation of the plan certified by COAH or the
court. All monitoring reports shall be completed on forms designed
by COAH.
The ability for the Borough of Bradley Beach to impose, collect
and expend development fees shall expire with its substantive certification
unless the Borough of Bradley Beach has filed an adopted Housing Element
and Fair Share Plan with COAH or the court, has petitioned for substantive
certification, and has received COAH's or the court's approval
of its development fee ordinance. If the Borough of Bradley Beach
fails to renew its ability to impose and collect development fees
prior to the expiration of 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). The Borough of Bradley Beach
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
the Borough of Bradley Beach retroactively impose a development fee
on such a development. The Borough of Bradley Beach shall not expend
development fees after the expiration of its substantive certification
or judgment of compliance.