R-1-Aa Residence District. In all R-1-Aa Residence Districts the use restrictions and regulations shall be the same as those permitted in the R-1-A Residence District,[1] provided that the requirement of § 180-17 herein is met.

In all R-1-Aa Residence Districts the area restrictions and regulations shall be the same as those permitted in the R-1-A District, except that the minimum lot size requirement shall be 40,000 square feet.

In all R-1-Aa Residence Districts the height restrictions and regulations shall be the same as those permitted in the R-1-A Residence District.

Any application for development in the R-1-Aa Residence District is subject to a financial contribution by the developer in accordance with a settlement agreement dated April 27, 1987, providing for a payment in lieu of the construction of dwelling units for low- and moderate-income housing as defined by the New Jersey Council on Affordable Housing pursuant to the Fair Housing Act, N.J.S.A. 52:27D-301 et seq.