Pursuant to the provisions of the third round
substantive rules promulgated and adopted by the New Jersey Council
on Affordable Housing, N.J.A.C. 5:94 et seq. and N.J.A.C. 5:95 et
seq., it is hereby declared that the purpose of this article is to
help the Township fulfill its affirmative obligation to facilitate
the provision of affordable housing.
As used in this article, words and phrases shall
have the same meanings they have pursuant to N.J.A.C. 5:94-1.4, as
said provision may from time to time be amended.
With the prior written approval of the Township Committee, and except as provided in §
150-112B above, the applicant may choose to satisfy its affordable housing growth share obligation through the mechanisms permitted in COAH's rules, including on-site affordable housing production; off-site affordable housing production in the Township; the purchase of an existing market rate home(s) at another location in the community and its conversion to an affordable price-restricted home in accordance with COAH's rules; participation in gut rehabilitation and/or buy-down/write-down, buy-down/rent-down programs; payment of a contribution in lieu of construction; and/or any other compliance mechanism permitted by COAH's rules.
If any paragraph, section, subsection, sentence,
clause, phrase or portion of this article is for any reason held invalid
or unconstitutional by any court or administrative agency of competent
jurisdiction, such portion shall be deemed a separate, distinct and
independent provision, and such holding shall not affect the validity
of the remaining paragraphs or sections hereof.
In the event that any provision of this article
is inconsistent with any other provision of this Code, the terms of
this article shall govern.