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 THE COUNCIL
The New Jersey Council on Affordable Housing established
under the Fair Housing Act.
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. 5:93-8.
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.
On or about January 1 of each year through 2025, Brick shall
provide annual reporting of trust fund activity to the New Jersey
Department of Community Affairs (DCA), COAH, or Local Government Services
(LGS), or other entity designated by the State of New Jersey, with
a copy provided to the Fair Share Housing Center and posted on the
municipal website, using forms developed for this purpose by the DCA,
COAH, or LGS. This reporting shall include an accounting of all Housing
Trust Fund activity, including 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 Brick's housing program, as well as to
the expenditure of revenues and implementation of the plan approved
by the Court.
The ability for Brick to impose, collect and expend development
fees shall expire with its Court-issued Judgement of Compliance unless
Brick has filed an adopted Housing Element and Fair Share Plan with
the Court or other appropriate jurisdiction, has filed a Declaratory
Judgement Action, and has received the Court's approval of its development
fee ordinance. If Brick fails to renew its ability to impose and collect
development fees prior to the expiration of its Judgment of Compliance
and Repose, 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). Brick shall
not impose a residential development fee on a development that receives
preliminary or final site plan approval after the expiration of its
Judgment of Compliance and Repose, nor shall Brick retroactively impose
a development fee on such a development. Brick shall not expend development
fees after the expiration of its substantive certification or Judgment
of Compliance and Repose.