The following terms, as used in this article, shall have the
following meanings:
DEVELOPMENT FEE
Money paid by a developer for the improvement of property
as permitted in N.J.A.C. 5:97-8.3.
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.
The Borough of Bergenfield shall provide annual reporting of
Affordable Housing Trust Fund activity to the State of New Jersey,
Department of Community Affairs, Council on Affordable Housing or
Local Government Services 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 New Jersey Department of Community Affairs, Council
on Affordable Housing or Local Government Services. The reporting
shall include an accounting of all Affordable Housing Trust Fund activity,
including the sources and amount of funds collected and the amounts
and purposes for which any funds have been expended. Such reporting
shall include an accounting of development fees collected from residential
and nonresidential developers, payments in lieu of constructing affordable
housing units on site (if permitted by ordinance or by agreement with
Bergenfield), funds from the sale of units with extinguishing controls,
barrierfree escrow funds, rental income from Borough-owned affordable
housing units, repayments from affordable housing program loans, and
any other funds collected in connection with Bergenfield's affordable
housing programs, as well as an accounting of the expenditures of
revenues and implementation of the Spending Plan approved by the Court.
The ability for the Borough of Bergenfield to impose, collect
and expend development fees shall expire with its repose period covered
by its Judgement of Compliance unless Bergenfield has filed an adopted
Housing Element and Fair Share Plan with the Court, or with a designated
state administrative agency, has petitioned for a Judgment of Compliance
from the Court or for Substantive Certification or its equivalent
from a state administrative agency authorized to approved and administer
municipal affordable housing compliance, and has received approval
of its Development Fee Ordinance from the entity that will be reviewing
and approving the Housing Element and Fair Share Plan. If the Borough
of Bergenfield fails to renew its ability to impose and collect development
fees prior to the expiration of its Judgement of Compliance, it may
be subject to forfeiture of any or all funds remaining within its
municipal affordable housing 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).
The Borough of Bergenfield shall not impose a residential development
on a development that receives preliminary or final site plan approval
after the expiration of its Judgement of Compliance, nor shall Bergenfield
retroactively impose a development fee on such a development. The
Borough of Bergenfield shall not expend development fees after the
expiration of its Judgement of Compliance.