Midland Park City Zoning Code
§ 34-13A.2
Affordable Housing Compliance Mechanisms.
[6-10-2021 by Ord. No. 08-21 ]
a.
Any developer with an affordable housing set-aside requirement pursuant to Subsection 34-13A.1 above shall be permitted to satisfy said requirement through any of the following mechanisms, or a combination thereof, provided that advanced written permission is obtained from the Borough of Midland Park:
1.
On-site housing production;
2.
Off-site housing production in the Borough;
3.
The purchase of an existing market-rate dwelling at another location in the Borough and conversion thereof to an affordable deed-restricted dwelling in accordance with the applicable New Jersey Council on Affordable Housing (COAH) regulations, as may be amended from time to time;
4.
Participation in gut rehabilitation and/or buy-down/write-down and/or buy-down/rent-down programs;
5.
Payment in lieu of providing affordable housing; and
6.
Any other compliance mechanism permitted under the applicable COAH regulations, as may be amended from time to time.
b.
Satisfaction of the affordable housing compliance mechanism(s) so permitted shall be an automatic condition of all approvals. Said condition shall be satisfied in accordance with COAH's phasing requirements pursuant to N.J.A.C. 5:93-5.6(d).