Definitions. "Definitions and rules of general applicability" is
hereby created/amended and defines the following terms:
ADMINISTRATIVE AGENT
The entity responsible for administering the affordability
controls of this section with respect to specific restricted units,
as designated pursuant to N.J.A.C. 5:80-26.14.
AFFORDABILITY AVERAGE
An average of the percentage of median income at which restricted
units in an affordable development are affordable to low- and moderate-income
households.
AFFORDABLE
In the case of an ownership unit, that the sales price for
the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6
and, in the case of a rental unit, that the rent for the unit conforms
to the standards set forth in N.J.A.C. 5:80-26.12.
AGENCY
The New Jersey Housing and Mortgage Finance Agency established
by P.L. 1983, c. 530 (N.J.S.A. 55:14K-1 et seq.) and in, but not of,
the DCA.
AGE-RESTRICTED UNIT
A housing unit designed to meet the needs of, and exclusively
for, the residents of an age-restricted segment of the population
where the head of the household is a minimum age of either 62 years,
or 55 years and meets the provisions of the 42 U.S.C. §§ 3601
et seq., except that due to death, a remaining spouse of less than
55 years of age shall be permitted to continue to reside.
ASSISTED LIVING RESIDENCE
A facility licensed by the New Jersey Department of Health
and Senior Services to provide apartment-style housing and congregate
dining and to assure that assisted living services are available when
needed for four or more adult persons unrelated to the proprietor
and offer, at a minimum, one unfurnished room, a private bathroom,
a kitchenette and a lockable door on the unit entrance.
BALANCED HOUSING
The Neighborhood Preservation Balanced Housing Program of
the DCA as set forth at N.J.S.A. 52:27D-320 and N.J.A.C. 5:43.
CERTIFIED HOUSEHOLD
A household that has been certified by an administrative
agent as a low-income household or moderate-income household.
COAH
The Council on Affordable Housing in, but not of, the DCA,
established under the New Jersey Fair Housing Act (N.J.S.A. 52:27D-301
et seq.).
DCA
The State of New Jersey Department of Community Affairs.
FAIR SHARE ROUND
Any one of three periods in time during which the Council
established municipal obligations to provide affordable housing, and
the first round was from 1987 to 1993 and the second period was from
1993 to 1997 and the third is for 1999 to 2018.
HAS
The Housing Affordability Service, formerly known as the
"Affordable Housing Management Service," at the New Jersey Housing
and Mortgage Finance Agency.
LOW-INCOME HOUSEHOLD
A household with a total gross annual household income equal
to 50% or less of the median income.
LOW-INCOME UNIT
A restricted unit that is affordable to a low-income household.
MEDIAN INCOME
The median income by household size for an applicable county,
as adopted annually by COAH.
MODERATE-INCOME HOUSEHOLD
A household with a total gross annual household income in
excess of 50% but less than 80% of the median income.
MONI
The Agency's Market Oriented Neighborhood Investment Program,
as it may be authorized from time to time by the Agency.
95/5 UNIT
A restricted ownership unit that is part of a housing element
that received substantive certification from COAH pursuant to N.J.A.C.
5:93 before October 1, 2001.
NONEXEMPT SALE
Any sale or transfer of ownership other than the transfer
of ownership between husband and wife; the transfer of ownership between
former spouses ordered as a result of a judicial decree of divorce
or 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 the transfer of ownership by court order.
RANDOM SELECTION PROCESS
A process by which currently income-eligible households are
selected for placement in affordable housing units such that no preference
is given to one applicant over another except for purposes of matching
household income and size with an appropriately priced and sized affordable
unit (e.g., by lottery).
REGIONAL ASSET LIMIT
The maximum housing value affordable to a four-person household
with an income at or above 80% of the regional median as defined by
the Council's annually adopted income limits.
RENT
The gross monthly cost of a rental unit to the tenant, including
the rent paid to the landlord, as well as an allowance for tenant-paid
utilities computed in accordance with allowances published by DCA
for its Section 8 program. In assisted living residences, rent does
not include charges for food and services.
RESTRICTED UNIT
A dwelling unit, whether a rental unit or ownership unit,
that is subject to the affordability controls of N.J.A.C. 5:80-26.1,
but does not include a market-rate unit financed under UHORP or MONI.
UHORP
The Agency's Urban Homeownership Recovery Program.