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East Windsor City Zoning Code

§ 20-20.11

Review of 95/5 Restrictions.

a. 
At the end of 25 years from the issuance of the last certificate of occupancy in a development, the Township Council shall review the obligation of the Township for the continued maintenance of low- and moderate-income units and shall establish by ordinance whether or not all or a portion of the then-existing low- and moderate-income units will remain as such for a period in excess of 30 years. If the Township Council determines that all or a portion of these units shall not be maintained as low- and moderate income units, the Council shall by ordinance determine the disposition of any resale profits in excess of the profit which would be allowed had the units remained as low- and moderate-income units.
b. 
This subsection shall be set forth in its entirety in all documents and covenants running with the land to insure proper notice of the terms and conditions of this subsection, and shall be in a form acceptable to the Township attorney.