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.
ACT
AFFORDABLE
AFFORDABLE HOUSING BOARD OR THE BOARD
AFFORDABLE HOUSING DEVELOPMENT
AGENCY
ALTERNATIVE LIVING ARRANGEMENT
BASE PRICE
COUNCIL ON AFFORDABLE HOUSING OR COAH
DEFICIENT UNIT
DEVELOPER'S AFFORDABLE HOUSING PLAN
EXEMPT SALES
FAIR MARKET VALUE
FAIR SHARE HOUSING DEVELOPMENT
HOUSEHOLD
HOUSING ADMINISTRATOR OR ADMINISTRATOR
INCLUSIONARY DEVELOPMENT
INDEX
LOW-INCOME HOUSING
MODERATE-INCOME HOUSING
PRICE DIFFERENTIAL
PRIORITY
REHABILITATED UNIT
REPAYMENT CLAUSE
REPAYMENT OPTION
RESALE PRICE
RESTRICTED
SECTION 8 INCOME LIMITS OR INCOME LIMITS
SET-ASIDE
As used in this chapter, the following terms shall have the meanings
indicated:
The Fair Housing Act of 1985, L. 1985, c. 222 (N.J.S.A. 52:27D-301
et seq.).
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.
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.
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.
The New Jersey Mortgage and Finance Agency.
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.
The initial sales price of a unit produced for or designated
as owner-occupied affordable housing.
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.
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.
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.
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.
The unrestricted price of a lower moderate-income housing
unit if sold at a current real estate market rate.
The same as "affordable housing development."
The person or persons occupying a housing unit.
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.
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.
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.
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.
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.
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.
A system of selecting applicants.
A previously deficient housing unit which has undergone significant
renovation to meet municipal or other applicable housing code standards.
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.
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.
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 for occupancy by a class of individuals by virtue
of legally enforceable conditions contained within a deed or other
duly recorded document.
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.
The percentage of housing units devoted to low- and moderate-income
households within an inclusionary development.
