Lyndhurst City Zoning Code
§ 21-20.8
Methods of Compliance.
[Ord. #2678, § 21-20.8]
The applicant may satisfy its affordable housing obligation calculated in accordance with subsections 21-20.2 and 21-20.3 in accordance with one or more of the following alternatives as permitted by COAH's "Substantive Rules" as set forth below:
a.
On-site production of affordable housing units.
b.
The purchase of an existing market rate dwelling unit within the municipality and its conversion to an affordably priced unit. The satisfaction of an affordable housing obligation through this method shall subject the developer to an additional obligation equal to an additional one-half affordable unit for every affordable unit otherwise required. Example: If a development generates an on-site affordable housing obligation of two units, the affordable housing obligation will be increased to three affordable housing units if the units are provided by the purchase of an existing market rate dwelling unit within the municipality for conversion to an affordably priced unit.
c.
The purchase of an existing market rate dwelling unit within the municipality and its conversion to an "alternative living arrangement" facility (i.e., group home). The satisfaction of an affordable housing obligation through this method shall subject the developer to an additional obligation equal to an additional one-half affordable unit for every affordable unit otherwise required. Example: If a development generates an on-site affordable housing obligation of two units, the affordable housing obligation will be increased to three affordable housing units if the units are provided by the purchase of an existing market rate dwelling unit within the municipality for conversion to an "alternative living arrangement" facility.
d.
Participation in gut rehabilitation and/or buy down/write down or buy-down/rent down programs. The satisfaction of an affordable housing obligation through this method shall subject the developer to an additional obligation equal to an additional one-half affordable unit for every affordable unit otherwise required. Example: If a development generates an on-site affordable housing obligation of two units, the affordable housing obligation will be increased to three affordable housing units if the units are provided by gut rehabilitation and/or buy down/write down or buy-down/rent down.