[Amended 3-9-2026 by Ord. No. 2026-15]
(a)
Control periods for units that meet the definition of prior round units shall be pursuant to the 2001 UHAC rules originally adopted October 1, 2001, 33 N.J.R. 3432, and amended December 20, 2004, 36 N.J.R. 5713, and shall remain subject to the requirements of this article for a period of at least 30 years as applicable unless otherwise indicated.
(b)
Other than for prior round units, control periods for restricted rental units shall be in accordance with N.J.A.C. 5:80-26.12, as may be amended and supplemented, and each restricted rental unit shall remain subject to the requirements of this article for a period of at least 40 years. Restricted rental units created as part of developments receiving 9% low-income housing tax credits must comply with a control period of not less than a 30-year compliance period plus a 15-year extended use period for a total of 45 years.
(c)
The affordability control period for a restricted rental unit shall commence on the first date that a unit is issued a certificate of occupancy following the execution of the deed restriction or, if affordability controls are being extended, on the effective date of the extension, which is the end of the original control period.
(d)
Rehabilitated renter-occupied housing units that are improved to code standards shall be subject to affordability controls for a period of not less than 10 years.
(e)
Prior to the issuance of any building permit for the construction/rehabilitation of restricted rental units, the developer/owner and the municipality shall record a preliminary instrument provided by the administrative agent.
(f)
Deeds of all real property that include restricted rental units shall contain deed restriction language. The deed restriction shall have priority over all mortgages on the property. The deed restriction shall be recorded by the developer with the county records office, and provided as filed and recorded, to the administrative agent within 30 days of the receipt of a certificate of occupancy.
(g)
A restricted rental unit shall remain subject to the affordability controls of this article despite the occurrence of any of the following events:
(1)
Sublease or assignment of the lease of the unit;
(2)
Sale or other voluntary transfer of the ownership of the unit;
(3)
The entry and enforcement of any judgment of foreclosure on the property containing the unit; or
(4)
The end of the control period, until the occupant household vacates the unit, or is certified as over-income and the controls are released in accordance with UHAC.