[Amended 11-13-2003]
The purpose of this zone district is to provide
certain development bonuses in settlement of a Mount Laurel action
entitled "Jomac Realty, Inc., et al. v. Borough of Allendale" and
in consideration of the developer’s agreement to contribute
to the production of lower-income housing in satisfaction of Allendale’s
affordable housing obligation under N.J.S.A. 52:27D-301 et seq. and
N.J.A.C. 5:93.
This zone district is intended for multiple
dwellings.
Any use other than those listed in this article
is prohibited.
Prior to the issuance of any construction permit,
the Planning Board shall review and approve a site plan for the entire
project in accordance with the Land Subdivision and Site Plan Ordinance
of the Borough of Allendale.
In lieu of constructing the 15 lower-income
units which would otherwise have been required in this zone district,
the developer shall contribute the sum of $300,000 to the Borough's
Affordable Housing Fund, representing $20,000 for each of the 15 lower-income
units. Payments shall be made by the developer proportionately in
accordance with the issuance of certificates of occupancy based on
the following schedule:
Percentage of Payment
|
Percentage of Units Completed
|
---|
0
|
25
|
10
|
26
|
50
|
50
|
75
|
75
|
100
|
90
|
--
|
100
|