The expenditure of all funds shall conform to a spending plan. Funds
deposited in the Affordable Housing Trust Fund may be used for any
activity within the spending plan or fair share plan to address the
Borough of Wildwood Crest's fair share obligation and may be set up
as a grant or revolving loan program. Such activities include, but
are not limited to: preservation or purchase of housing for the purpose
of maintaining or implementing affordability controls, rehabilitation,
new construction of affordable housing units and related costs, accessory
apartment, market to affordable, or regional housing partnership programs,
conversion of existing non-residential buildings to create new affordable
units, green building strategies designed to be cost saving and in
accordance with accepted national or State standards, purchase of
land for affordable housing, improvement of land to be used for affordable
housing, extensions or improvements of roads and infrastructure to
affordable housing sites, financial assistance designed to increase
affordability, administration necessary for implementation of the
Housing Element and Fair Share Plan, or any other activity as permitted
pursuant to N.J.A.C. 5:97-8.7 through 8.9 and specified in the approved
spending plan.