As required in §§ 112-39 and 112-49, a developer shall provide or cause others to provide low-income dwelling units which shall be not less than 5% of the total number of dwelling units specified in the development plan. The developer shall also provide the number of moderate-income dwelling units which, when added to the number of low-income dwelling units, shall not be less than 15% of the total number of dwelling units specified in the development plan.
Low- and moderate-income housing developers
must demonstrate to the Planning Board that their development shall
be timed and phased in accordance with regulations adopted by the
Council on Affordable Housing as same may be amended from time to
time.
In order to ensure that low- and moderate-income
housing units will remain economically feasible upon resale to persons
within the applicable income range developers shall be required to
comply with all provisions of regulations adopted by the Council on
Affordable Housing as same may be amended from time to time.
A density bonus of two units per gross residential acre will be given to the developer who provides low- and moderate-income dwelling units equal to 20% or more of the total number of dwelling units in a development plan for garden apartment development, or residential cluster development or townhouse development pursuant to §§ 112-39 and 112-49, respectively.
The average number of bedrooms proposed for
low- and moderate-income dwelling units shall comply with regulations
adopted by the Council on Affordable Housing as same may be amended
from time to time.
A.
In order to provide low- and moderate-income dwelling
units, all applicants for development shall make proposals which comply
with regulations adopted by the Council on Affordable Housing as same
may be amended from time to time.
B.
All plans for providing low- and moderate-income housing
units shall comply with regulations promulgated by the Council on
Affordable Housing as same may be amended from time to time.
Pursuant to the provisions of N.J.A.C. 5:92-12.3,
the Township of Franklin shall enter into a contract with the New
Jersey Housing and Mortgage Finance Agency or its designee in order
to provide an appropriate administrative mechanism or entity responsible
for assuring that low- and moderate-income housing units remain affordable
to low- and moderate-income households.
