This chapter is intended to assure that low- and moderate-income units ("affordable units") are created with controls on affordability over time and that only qualified low- and moderate-income households shall occupy these units to implement affordable regulations in fulfillment of a settlement agreement by and between the Borough of Old Tappan, New Jersey, SMDC, LLC and the Fair Share Housing Center in connection with the Borough of Old Tappan's declaratory judgment action captioned "In the Matter of the Application of the Borough of Old Tappan" bearing docket number BER-L-6086-15 pursuant to In re the Adoption of N.J.A.C. 5:96 and 5:97 by the Council on Affordable Housing, 221 N.J. 1 (2015).
A. 
The provisions of this chapter shall apply to all affordable housing developments and affordable housing units that currently exist and that are proposed to be created within the Borough of Old Tappan pursuant to the Borough's most recently adopted Housing Element and Fair Share Plan.
B. 
Moreover, this chapter shall apply to all developments that contain low- and moderate- income housing units, including any currently unanticipated future developments that will provide low- and moderate-income housing units.