[Ord. 5/5/80 § 1]
As used in this chapter:
HOUSING SPACE
Shall mean any building, housing complex, garden apartment
structure or trailer, permanent or temporary, or any part thereof,
and all other real or personal property related thereto, which is
rented or offered for rent as a residence, home sleeping place, or
lodging place, and includes all privileges, services, furnishings,
furniture, and all health and recreational facilities, garage, connected
with the use or occupancy of that property. It does not include, and
this chapter does not apply to:
a.
A hospital, nursing home, retirement home, asylum, or public
institution, college or school dormitory, or any charitable, educational,
or non-profit institution.
b.
A hotel or motel characterized by the customary hotel or motel
services such as, but not limited to, laundry and maid service, telephone,
switchboard, and front lobby desk, and use by transient lodgers. Steady
or prolonged use (three months or more) is subject to this chapter,
even though rent or cost is paid weekly, etc.
c.
Public housing, or that related to any governmental entity.
d.
One-family detached houses, condominiums and cooperative housing
developments (after initial sale); provided, however, that any tenant
who resides in a condominium or cooperative unit, either prior to
the recording of the master deed or the lawful establishment of the
cooperative development, shall be entitled to the protection of this
chapter.
e.
Premises (in addition to d above) wherein there are five units
or less and the landlord resides in one of the units. Housing accommodations,
newly constructed and rented for the first time, are exempted. The
initial rent may be determined by negotiations between landlord and
tenant. All subsequent rentals will be subject to the provisions of
this chapter.
f.
Caretaker or superintendent, wherein substantially all rent
is paid for by services, maintenance, security or upkeep, with or
without some salary or other arrangement.
LANDLORD
Shall mean an owner, lessor, sublessor, assignee, or other
person receiving or entitled to receive rent or any agent of a person
receiving or entitled to receive rent for use, rental or occupancy
of housing space, whether by written or oral lease, letting, or otherwise.
MAXIMUM RENT
Shall mean the maximum lawful consideration allowable for
the occupation, rental or use of housing space, which may be expressed
in terms of monthly rent and other charges or privileges, however
called or agreed to, including garage rent; fee for use of health
or recreational facilities, all of which are controlled hereunder.
PRICE INDEX
Shall mean the Consumer Price Index (all items) for the region
of the United States of which New Jersey is a part, published periodically
by the Bureau of Labor Statistics, United States Department of Labor.
RENT
a.
BASE RENTShall mean the maximum rent price, cost or rental for housing space established (a) on January 1, 1980, or (b) on bona fide rental for the first time after that date, (c) or as established pursuant to this chapter or otherwise by law hereafter. After each rent increase of "base rent", the increased rent becomes the new "base rent".
It shall include as part of "base rent" regular or periodic
increases hereafter based upon the cost of living; or based upon capital
improvements (if so ordered by the Rent Control Board) or based upon
serious economic hardship (if so ordered by the Rental Board).
It shall not include fluctuating influences such as any tax
surcharge; fuel surcharge or other temporary or special relief.
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b.
TOTAL RENTShall mean base rent, plus any additional rent allowable under this chapter or other law, such as tax surcharge, when allowable; heating oil surcharge, when allowable; or other rent or rent increase allowable hereunder.
Cost of living increases shall be calculated only on base rent,
not on total rent, unless otherwise ordered by the Rent Control Board
or other competent authority.
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c.
RENTAL STATEMENTShall mean a full statement of base rent; other rent; and total rent; and all other costs and charges; and a statement of the housing space, services and privileges, involving the total rental and housing arrangement between landlord and tenant, that shall be promptly given and signed (a) on demand of either party, (b) on demand of the Rent Control Board or its agents, (c) on taking effect of any rent increase or decrease.
TENANT
Shall mean a lessee or other person who pays rent (in whatever
form) for use, rental, or occupation of housing space, and related
garage, services and facilities.
TOTAL RENTAL AND HOUSING ARRANGEMENT
Shall mean all the rental, terms, obligations, conditions,
rights and privileges of the landlord and tenant regarding rental
and use of housing space, including but not limited to:
a.
Exact space rented and used or occupied.
b.
Money or thing of value, paid or delivered as rent or other
cost or charges; and in what form, and for what period; shown as base
rent and all other rent.
c.
Additional health, recreational or other facilities, costs or
charges, rights, services or privileges enjoyed, such as basement
storage space, clothesline, garage, elevator, parking; yard or garden,
washing or drying machines or facilities, heat, hot water, security,
painting and decorating and similar terms and conditions.
d.
If a written lease is in existence, it shall serve as the initial
rental statement and proof of the total rental and housing arrangement,
unless contrary to this chapter or applicable law.
Other terms shall be defined in the following sections concerned.
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[Ord. 5/5/80 § 2; Ord. No. 13-2018; amended 12-13-2021 by Ord. No.
28-21]
a. Established. Based upon the shortage of adequate housing at reasonable
rents, and need for housing space and reasonable controls relating
thereto, in the exercise of the Police power and to protect public
health, safety and welfare, rent control is hereby established in
Guttenberg for all housing space and all housing space rentals covered
by this chapter, as of January 1, 1980. All rentals and related services
and privileges in the total rental and housing arrangement shall be
maintained at the same base rent.
b. Base Rent. Such rentals as were established by bona fide renting
arrangements, in whatever form, of housing space in Guttenberg, covered
under this chapter, are hereby controlled, as of January 1, 1980,
and no additional rent, cost or charges may be lawfully collected
hereafter without authority under this chapter. The lawful rental
actually paid rather than a stated lease rent which is partially waived
or conceded, shall be the lawful controlled base and maximum rent
hereunder.
c. Basic Policy. It is the intent and policy of this chapter that normally
the base rent shall command and pay for the normal total rental and
housing arrangement covering the particular housing space in Guttenberg.
d. Special Rental Action.
1. In addition to normal cost of living rental increases, hereafter provided for; and any other Town wide across-the-board rent increases that may be authorized hereunder for tax surcharge, fuel surcharge or the like, application for "special rental action" may be made at any time by landlord or tenant under Section
12-3 hereof to increase or decrease rent or applicable obligations, terms, facilities, privileges or services.
2. Such special rental action shall require prior order of the Rent
Control Board which shall act only for good cause shown, after notice
and opportunity to be heard and furnish proofs (oral hearing only
on leave granted) in the following situations:
(a) Landlord has materially reduced services, facilities, privileges,
maintenance of the premises, or other attributes of the total rental
and housing arrangement, beyond reasonable ordinary wear and tear.
(b) Tenant or its subtenants (children, etc.) have abused the premises
or have failed to clean the rental portion of the premises, or defaced
same or the property, or have conducted themselves in such loud or
disorderly or unpleasant manner as to disturb other tenants or otherwise
have disturbed the quiet enjoyment of the premises or the neighborhood.
(c) Such unforeseen economic factors as constitute a serious hardship
on the landlord, unless some reasonable rent increase is granted.
(d) Such other special unforeseen circumstances, including but not limited
to “Acts of God” as would require adjustment of the rent
upward or downward to prevent great hardship or injustice.
(e) Major necessary capital improvements to the premises made subsequent
to this chapter.
(f) All such applications shall be made in writing stating the total
rental and housing arrangement, a clear detailing of the special circumstances
with supporting proofs; the amount of increase or decrease requested
with all reasons therefor; and a request for hearing if testimony
is required, and shall be filed 30 days before the requested effective
date of increase or decrease.
e. Existing Leases and Options to Renew. The terms and provisions, insofar
as concerns base rent payments in existing leases and options to renew
such leases agreed to prior to January 1, 1980, shall continue in
full force and effect until the termination of the lease or option
period. All new leases or renewals offered or executed or to commence
thereafter, shall be subject to the provisions of this chapter. The
base rent level in leased rented housing space shall be the rent in
effect at the expiration after January 1, 1980 of such lease term
or renewal after which date the tenant may remain under lease or as
a monthly tenant, and the premises shall thenceforth remain subject
to the provisions of this chapter.
f. Application to Certain Lease Clauses. All tax adjustment, fuel or
other rent escalation and rent adjustment clauses in existing leases
shall be subject to the provisions of this chapter in their prospective
application, as to future renewals after January 1, 1980.
g. Permitted Rent Increase. Increases in annual rent are permitted as
follows:
1. 3% annual increase is permitted where the landlord provides NO utilities
to Tenant (i.e. heat, electric).
2. 3.5% annual increase is permitted where the Landlord provides utilities
to Tenant.
3.
If the Tenant is a Qualified Senior
or Disabled person the Landlord may increase the annual rent by 2.5%
or Consumer Price Index ("CPI"), whichever is less. In determining
whether a person qualifies as a senior citizen or disabled person
under this section, such person shall be required to satisfy the criteria
as set forth in the Senior Citizens and Disabled Persons Protective
Tenancy Act, N.J.S.A. 2A:18-61.22 et seq. Qualification for eligibility
for senior citizens and disabled person status:
(1) In determining whether a person qualifies as a senior citizen or
disabled person under this section, such person shall be required
to satisfy the criteria as set forth in the Senior Citizens and Disabled
Persons Protective Tenancy Act, N.J.S.A. 2A:18-61.22, et seq.
(2) All persons seeking to qualify as senior citizens or disabled persons
shall complete application forms provided by the Rent Control Board.
(3) The determination as to eligibility shall be made by the Rent Control
Board within 60 days after the receipt of a complete application.
(4) Hearings by the Rent Control Board on applications for eligibility
shall be held in closed session with only the affected landlord and
tenant and their agents in attendance. All data utilized at such hearing
shall be held in strict confidence at the request of the tenant.
(5) Once a tenant obtains initial eligibility, said tenant must certify
at the expiration of every two years thereafter as to his/her continued
eligibility. Such certification forms shall be provided by the Rent
Control Board.
(6) Said certification must be completed by an eligible tenant not less
than three months prior to lease-renew or annual rent increase.
(7) For good cause shown, a landlord may apply to the Rent Control Board
for a hearing on the question of a tenant's eligibility at the anniversary
date of such tenant's eligibility after the initial two-year period
of eligibility.
4. COVID Premium - Where a landlord (1) provides proof of loss rents
due to non-payment of rent during the COVID-19 State of Emergency,
commencing on or about March 15, 2020 due to non-payment of rent by
the tenant whose unit’s rent is sought increased; (2) that such
tenant did not apply for or refused to cooperate with an application
for COVID-19 related rental assistance; and (3) that a good-faith
complaint has been filed in the Superior Court for eviction of such
tenant for non-payment of rent during such period, landlord may apply
for a one 1% increase in addition to that provided by paragraphs g,1
and g,2 above.
h. Frequency and Maximum Percentage of Increase. Such increase shall be deemed a basic economic cost of living increase, and shall be limited to one such increase if otherwise justified, in anyone twelve-month period after July 1, 1980 and without prejudice to any other rent increase provided hereunder, but all increases together, for any reason whatsoever, cannot exceed 9.5% in any one year after July 1, 1980, subject to special cases under Section
12-3 hereof.
All subsequent rent increases; and calculations regarding increases
in the Consumer Price Index; fuel oil costs, and the like, will commence
or be calculated or compared from the date of the last rent increase
received hereunder, as near as may be. Tax increases will be calculated
on an annual basis.
i. Tax Surcharges. A landlord may seek 90% surcharge from a tenant because
of an increase in municipal property taxes if such taxes are $100
in excess of those assessed for the 1980 tax year. The landlord shall
divide the increase in the current property tax over the property
tax for the 1980 tax year by:
1. Determining the total number of rentable square feet in the dwelling
(excluding halls, stairs, basement or the like) to obtain the tax
increase per square foot of rentable space. The tenant shall not be
liable for a tax surcharge exceeding 90% of the tax increase per square
foot of rentable space multiplied by the number of square feet occupied
by the tenant, or
2. Determining the total number of rooms in the dwelling available for
rent to obtain the tax increase per room. The tenant shall not be
liable for a tax surcharge exceeding the tax increase per room, multiplied
by the number of rooms occupied by the tenant.
3. Tenant shall pay the lower of the two tax surcharge rent increase
calculations.
4. Any landlord seeking a tax surcharge shall notify the tenant and
the board in writing of the calculations involved in computing the
tax surcharge, including the present amount of municipal property
tax for the dwelling, the amount of municipal property tax for the
dwelling for the year 1980, and
(a) The total number of rentable square feet in the dwelling, the tax
increase per square foot of rentable space, the number of square feet
occupied by the tenant and the maximum allowable tax surcharge, or
(b) The total number of rooms in the dwelling available for rent, the
tax increase per room, the number of rooms occupied by the tenant,
and the maximum allowable tax surcharge.
5. Tax Surcharge Payments; Installments; Time Payable. The Tax surcharge
for which each tenant may be liable, shall be paid in 12 equal monthly
installments, each being 1/12 of the total annual surcharge, such
payments commencing July 1 of each year. The tax surcharge shall not
be considered part of base rent for the purpose of computing cost
of living increases, but shall be paid separate in addition to the
base rent, whenever authorized.
6. Reduction in Municipal Property Taxes. In cases in which the tenant
has paid the tax surcharge, the tenant shall be entitled to a tax
rebate in the event of a reduction in municipal property taxes. The
landlord shall compute the rebate to which the tenant may be entitled
by use of the same formula as set forth above in computing a tax surcharge.
Payment thereof shall be made in the form of a credit against the
monthly rent or of a check made payable to the tenant.
7. Tax Appeal by Landlord. In the event a tax appeal is taken by the
landlord and the landlord is successful in such appeal and the taxes
are reduced, the tenant shall receive 60% of the reduction as applied
to his portion of rentable space footage or the number of rooms occupied
by the tenant calculated as above set forth.
j. Fuel Oil Surcharge. Similar fuel oil surcharge shall be allowable
to the extent of 90% of the increase in future years over 1980 of
annual fuel oil costs, provided such increase is more than $100. In
such case, fuel oil surcharge shall be allowable, but shall not constitute
part of base rent.
[Ord. 5/5/80 § 4; Ord. 6/2/86 § 1; Ord. #001/06;
amended 9-28-2020 by Ord. No. 25-20]
There is hereby created a Rent Control Board in the Town of
Guttenberg. Such board will consist of five members, who shall be
appointed by the Board of Council by resolution, adopted by a majority
vote, and their terms of office shall be for a period of one year
each, with each member serving without compensation.
[Ord. 5/5/80 § 4;
Ord. #001/97]
The Rent Control Board is hereby granted, and shall have and
exercise all the powers necessary and appropriate to carry out and
execute the purposes of this chapter, including but not limited to
the following:
a. To issue and promulgate such rules and regulations as it deems necessary
to implement the purposes of this chapter, including, but not limited
to, the use of subpoenas. Such rules and regulations shall have the
force of law, until revised, repealed or amended, by the Board of
Council in the exercise of its discretion, provided that such rules
and regulations are first filed in the office of the Town Clerk.
b. To supply information and assistance to landlords and tenants to
aid and assist them in complying with the provisions of this chapter.
c. To consider and decide all applications and proceedings under this
chapter.
d. To investigate and secure compliance; and to have all access to all
books, records, and materials necessary to function under this ordinance.
e. To exercise such other powers as necessary to administer and enforce
this chapter and all orders and decisions relating thereto.
f. A quorum for a hearing shall consist of at least three members, and
a majority of the quorum shall be authorized to issue orders relating
to the powers and functions of the Board. The Board shall give both
landlords and tenants reasonable opportunity, with or without counsel,
to be heard before making any determination and may grant oral hearings
on applications if the cause requires same.
[Ord. 5/5/80 § 6;
Ord. #014/04; amended 12-13-2021 by Ord. No. 28-21]
a. Landlord to Maintain All Reasonable Standards of Service, Maintenance,
etc. During the time this chapter is in force and effect, the landlord
shall maintain all reasonable standards of service, maintenance, furniture,
furnishings, use and equipment in the housing space and dwelling as
he provided or was required to maintain by law or lease at the date
the lease or tenancy was entered into or commenced, or on January
1, 1980.
b. Compliance Required in Rental Increases. No landlord shall receive
or charge any rents in excess of that which he was receiving or charging
on January 1, 1980, except for rental increases as authorized by this
chapter, or as otherwise provided herein.
c. All rent increases shall be rounded upward or downward to the nearest
half-dollar.
d. Liberal Construction of Chapter. This chapter being deemed necessary
and essential for the health, safety and welfare of the Town and its
inhabitants, shall be generally construed to effectuate the purposes
thereof. If any provision is invalidated or limited, all other provisions
shall be deemed severable and in full effect.
e. Compliance with State Law. No rent increase shall be granted until
all requirements of law are fulfilled by the landlord.
f. Denial for Nonpayment of Taxes, Liens. In any application for any
increase of rent filed by a landlord who has failed to make payment
of any municipal real estate taxes, assessments or municipal liens
on such premises that may be due and owing to the Town, the Board
shall hold such application in abeyance until there has been compliance
herewith and current tax payment.
g. All dwellings which are subject to the provisions of this chapter
shall file by October 1, 2004 and each year thereafter on October
1 of that year through 2022, and January 15 each year thereafter a
registration statement and a filing fee of $25 with the Rent Leveling
Board. This registration statement shall include the following information
to be provided on a form supplied by the Rent Leveling Board; the
name of each tenant and the apartment number; the number of rooms
for each apartment; the current rent for each apartment; the amount
of the last increase for each apartment unit; the date of the last
increase for each apartment unit; the address of the owner of the
building and his or her telephone number; and the superintendent's
name, address and phone number, if applicable. This annual registration
statement must be filed by October 1, 2004 and each anniversary date
thereafter. Failure to register or reregister or false registrations
shall be punishable by a fine not to exceed $500. A copy of the annual
registration statement shall be presented to any tenant upon demand.
For dwellings as to which registration statements were not filed
as required on or prior to October 1, 2021, the Town will provide
a grace period for the filing of such registration through April 1,
2022. Other provisions of this chapter notwithstanding, on notice
to the dwelling units’ tenants, the registered rent must be
the rent charged for the first three months of 2021 for the covered
dwelling units and such rent shall become the base rent as to such
dwelling.
h. For the purpose of disclosure, the registration statement shall be
considered a public document which shall be made available for inspection
pursuant to reasonable regulations established by the Rent Leveling
Board.
[Ord. 5/5/80 § 7;
amended 12-13-2021 by Ord. No. 28-21]
a. Any dwelling unit needed as a bona fide dwelling by a landlord or
his immediate family (child, grandchild, parent, grandparent, stepchild,
brother or sister) shall become exempt from rent control, provided
the family member actually resides or wishes to reside therein (without
limitation as to number of units needed). If the family member vacates
within one year, the old tenant forced to vacate, shall receive the
difference between new rent and old rent for balance of one year that
premises were not occupied by family member.
b. Landlord or buyer shall give 45 days' notice of need of apartment
or housing space, with full particulars including names, present addresses,
relationship and all circumstances, and requesting possession and
advising that after a particular date, the premises will no longer
be under rent control.
c. Such provision shall not exempt owner from serving other appropriate
notice to quit and demand for possession under State laws or proceeding
under State law for possession.
d. In the case of bona fide notice and need for the premises, the premises
shall thereafter be decontrolled, and any reasonable rent may be charged
thereafter, upon further subsequent notice of rent increase, pursuant
to State law.
e. Major Capital
Improvement Adjustment (“MCIA”)– Upon the termination
of a tenancy of a unit, a landlord may apply for a MCIA, as provided
for herein, otherwise a landlord must charge a subsequent tenant the
same base rent as established for such unit.
A MCIA may only enable a landlord to raise the base rent of
a unit up to the prevailing HUD Fair Market Rent in effect for such
unit at the time such unit is vacated.
A landlord will be eligible for such a MCIA if such landlord
prior to beginning any work on the capital improvement, schedules
a preimprovement inspection with the Building Department. Thereafter
the landlord must provide proof of all claimed capital improvement
expenditures to the Building Department and permit a post-improvement
inspection by the Building Department, adequate proof of the actual
rent charged for such unit (a current timely filed rent registration
statement is sufficient proof) , and apply for an MCIA to the Rent
Control Board, which will issue a determination thereon.
A landlord may only apply for an MCIA increase once every ten
years for such unit. A landlord may charge up to the amortized cost
of the capital improvement costs over a 60 month period. That monthly
amortized cost may be added to the monthly base rent of such unit
as a permissible monthly increase, but the permissible monthly increase
plus the base rent may not exceed the HUD Fair Market Rent for such
unit at the time of the application for the MCIA.
Furthermore, the permissible monthly increase, however, shall
be subject to the following adjustments:
1. A 25% upward
adjustment each for the following:
(a) If
the landlord presents an eviction order relating to the previous tenant,
or a letter from the previous tenant that the tenant voluntarily moved;
(b) If
the previous tenant was a tenant for over five years;
(c) There
were no building, ordinance or health codes violations in the previous
three years, or such violations were de minimis;
2. A 25% downward
adjustment each for the following:
(a) There
were building, ordinance or health codes violations in the previous
three years that were not de minimis;
(b) Failure
to file a rent registration statement on October 1, 2021, or during
any grace period provided in this chapter, for each of the previous
three years, prior to the application for and MCIA, after October
1, 2021 or during any grace period provided in this chapter; or
(c) Notice
from the previous tenant that they were forced to move due to conditions
of the unit or due to the actions of the landlord;
3. A 50% upward
adjustment, if the rent being charged prior to the unit being vacated
was 50% or less of the HUD Fair Market Rent for such unit.
[Ord. 5/5/80 § 8]
Besides being limited as to rentals and other provisions, each violation of any of the provisions of this chapter, including, but not limited to, the filing with the Rent Control Board or the Board of Council of any material misstatement of fact, shall be punishable by the penalty stated in Chapter
1, Section
1-5. A violation affecting more than one household or tenancy shall be considered a separate violation as to each leasehold or tenancy, and each month shall constitute a new separate violation.
[Ord. #1994-05 §§ I-IV; Ord. #005/02; Ord.
No. 05-2018]
a. A tenant who received a notice of eviction from an owner-landlord
because of zoning or code enforcement by the Town for an illegal occupancy,
deemed a "displaced person" by N.J.S.A. 20:4-1, et seq. and N.J.S.A.
2A:18-61.1g, shall be entitled to relocation assistance in an amount
equal to six times the displaced person's monthly rent from the owner-landlord.
The owner-landlord shall pay the relocation assistance directly to
the displaced person.
b. An additional fine for zoning or housing code violations for an illegal
occupancy may be assessed by the Town against the owner-landlord in
an amount up to six times the displaced person's monthly rent.
c. Upon a second or subsequent violation for an illegal occupancy, after
the opportunity for a hearing, an owner-landlord may be fined in an
amount equal to the annual tuition cost of any resident of the illegally
occupied unit attending a public school. This fine is in addition
to the fine set forth in paragraph b and shall be recovered in a civil
action by summary proceeding in the name of the Town of Guttenberg
pursuant to N.J.S.A. 2A:58-10, et seq. The Municipal Court and the
Superior Court shall have jurisdiction of the proceedings for the
enforcement of this penalty. The tuition cost shall be determined
in the manner prescribed for nonresident pupils, pursuant to N.J.S.A.
18A:28-19 and the payment of the fine shall be remitted to the Town's
school district.
d. For purposes of this section, the owner-landlord of a structure shall
not include mortgagees in possession of a structure through foreclosure.
e. For purposes of this section, a "second or subsequent violation for
an illegal occupancy," as set forth in paragraph c., shall be limited
to those violations that are new and a result of distinct and separate
zoning or code enforcement activities and shall not include any continuing
violations for which citations are issued by a zoning or Code enforcement
agency during the time period required for summary dispossession proceedings
to conclude if the owner has initiated eviction proceedings in a court
of proper jurisdiction.
f. The Town of Guttenberg shall not be responsible for the payment of
relocation assistance to any tenant who is deemed a displaced person
as a result of this section.
g. The Construction Code Official shall be responsible for all inspections,
regulations and enforcement.
h. The Town may provide by resolution that where a resident is displaced
from his/her dwelling by fire or other emergency, and the damage resulting
from the fire or other emergency in the judgment of the housing inspector
or other official charged with equivalent responsibility, is such
as to render the dwelling uninhabitable, the resident shall be deemed
a displaced person under the "Relocation Assistance Act" and shall
be eligible for relocation assistance as afforded persons displaced
as a result of code enforcement activities. State appropriations of
relocation assistance shall not be used for this purpose unless specifically
permitted by language in the annual appropriations act.
i. Repayment to Town by Owner-Landlord. All relocation assistance costs
incurred by the Town pursuant to this section shall be repaid by the
owner-landlord of the structure to the Town in the same manner as
relocation costs are billed and collected under Section 1 of P.L.
1983, c. 536 (N.J.S.A. 20:4-4.1) and Section 1 of P.L. 1984, c. 30
(N.J.S.A. 20:4-4.2). These repayments shall be deposited into the
municipality's revolving relocation assistance fund.
j. Creation of Revolving Relocation Assistance Fund. The Town shall
create a revolving relocation assistance fund to be funded in such
amount as may be determined by the Town.