The purpose of this chapter is to establish general provisions with regard to the construction, sale and rent of affordable housing units.
A. 
The term "shall" indicates a mandatory requirement, and the term "may" indicates a permissive action.
B. 
As used in this chapter, the following terms shall have the meanings indicated:
ACT
The Fair Housing Act of 1985, L. 1985, c. 222 (N.J.S.A. 52:27D-301 et seq.).
AFFORDABLE
A sales price or rent within the means of a low- or moderate-income household as defined in N.J.A.C. 5:92-12 controls on affordability.
AFFORDABLE HOUSING BOARD OR THE BOARD
The authority or agency authorized by the Township of Wayne to administer the various aspects of the Township's Fair Share Housing Plan, as provided by ordinance.
AFFORDABLE HOUSING DEVELOPMENT
A residential housing development in which a substantial percentage of the housing units is provided for a reasonable income range of low- and moderate-income households. The term may also mean housing developments comprised completely of low- and moderate-income units.
AGENCY
The New Jersey Mortgage and Finance Agency.
ALTERNATIVE LIVING ARRANGEMENT
A structure in which households maintain private rooms yet share kitchen and plumbing facilities, central heat and common areas. "Alternative living arrangement" includes but is not limited to Class C boarding homes as regulated by the New Jersey Department of Community Affairs, residential health care facilities as regulated by the New Jersey Department of Health, group homes for the developmentally disabled and mentally ill as licensed and/or regulated by the New Jersey Department of Human Services and congregate living arrangements. All such facilities must be subject to controls on affordability acceptable to the Court.
BASE PRICE
The initial sales price of a unit produced for or designated as owner-occupied affordable housing.
COUNCIL ON AFFORDABLE HOUSING OR COAH
The New Jersey Council on Affordable Housing established under the Act which has primary jurisdiction for the administration of housing obligations in accordance with sound regional planning considerations in this state.
DEFICIENT UNIT
A housing unit that is not decent, safe or sanitary as further determined through census surrogates or on-site inspection and does not comply with local codes or other housing standards and is determined pursuant to the method described in N.J.A.C. 5:92-5.2.
DEVELOPER'S AFFORDABLE HOUSING PLAN
A plan submitted by the developer, approved by the Affordable Housing Management Service of the State of New Jersey, Department of Community Affairs, which shall identify the manner in which the developer plans to develop, price, market and restrict the low- and moderate-income dwelling units in accordance with this chapter.
EXEMPT SALES
Include the transfer of ownership between husband and wife; and transfers of ownership between former spouses as a result of a judicial degree of divorce or a judicial separation, but not including sales to third parties; the transfer of ownership between family members as a result of inheritance; the transfer of ownership through an executor's deed to a Class A beneficiary and a transfer of ownership by court order.
FAIR MARKET VALUE
The unrestricted price of a lower moderate-income housing unit if sold at a current real estate market rate.
FAIR SHARE HOUSING DEVELOPMENT
The same as "affordable housing development."
HOUSEHOLD
The person or persons occupying a housing unit.
HOUSING ADMINISTRATOR OR ADMINISTRATOR
The employee, consultant, authority or governmental or other agency charged by the Municipal Council with the responsibility of carrying out various functions in the administration of the various aspects of the Township's Fair Share Housing Plan, as provided by ordinance and/or as may be designated by the Affordable Housing Board.
INCLUSIONARY DEVELOPMENT
A residential housing development in which a substantial percentage of the housing units is provided for a reasonable income range of low-and moderate-income households. The term may also mean housing developments comprised completely of low- and moderate-income units.
INDEX
The measured percentage of change in the median income for a household of four by geographic region using the income guideline approved for use by COAH.
LOW-INCOME HOUSING
Housing affordable according to United States Department of Housing and Urban Development or other recognized standards for home ownership and rental costs and occupied or reserved for occupancy by households with a gross household income equal to 50% or less of the median gross household income for households of the same size within the housing region in which the housing is located, and is subject to affordability controls.
MODERATE-INCOME HOUSING
Housing affordable according to United States Department of Housing and Urban Development or other recognized standards for home ownership and rental costs and occupied or reserved for occupancy by households with a gross household income equal to or more than 50% but less than 80% of the median gross household income for households of the same size within the housing region in which the housing is located, and is subject to affordability controls.
PRICE DIFFERENTIAL
The difference between the restricted unit sale price and the fair market value as determined at the date of the proposed contract sale after reasonable real estate broker fees have been paid.
PRIORITY
A system of selecting applicants.
REHABILITATED UNIT
A previously deficient housing unit which has undergone significant renovation to meet municipal or other applicable housing code standards.
REPAYMENT CLAUSE
The obligation of a seller exercising the repayment option to pay 95% of the price differential to a municipality at closing for use within the municipal housing plan.
REPAYMENT OPTION
The option of a seller of a low- or moderate-income unit to sell a unit pursuant to N.J.A.C. 5:92-12.7 at a fair market value subject to compliance with the terms of the repayment clause.
RESALE PRICE
The base price of a unit designated as owner-occupied affordable housing as adjusted by the index. The "resale price" may also be adjusted to accommodate an approved home improvement.
RESTRICTED
Restricted for occupancy by a class of individuals by virtue of legally enforceable conditions contained within a deed or other duly recorded document.
SECTION 8 INCOME LIMITS OR INCOME LIMITS
A schedule of income limits that define 50% and 80% median income by household size published by the United States Department of Housing and Urban Development (HUD) and adopted annually by the Council on Affordable Housing. When used herein, "Section 8 income limits" shall refer to the uncapped schedule as contained in N.J.A.C. 5:92, Technical Appendix.
SET-ASIDE
The percentage of housing units devoted to low- and moderate-income households within an inclusionary development.