[Ord. No. 11-89; 1967 Code § 3-14]
The Township shall monitor the income of all affordable housing tenants in a manner consistent with the income verification procedures set forth by COAH. If at any time a household's income exceeds the maximum allowable income for a unit of that bedroom size by more than 20%, a rental surcharge will be imposed in accordance with the following schedule:
Tenant's Income/Maximum Income Per Housing Unit | Rental Surcharge |
|---|
1.21–1.35 | 10% |
1.36–1.50 | 25% |
1.51 or greater | 50% |
Proceeds collected as a rental surcharge shall be shared equally by the Township and the owner of the low/moderate income rental unit. If the tenant's income is increased to the point where a surcharge will be imposed, the tenant will be notified by the Long Hill Township Affordable Housing Officer.
If, after an increase in income, a formerly low income household becomes a moderate income household, then the moderate income rental guidelines shall apply and no surcharge shall be imposed.