Purpose. The purpose of the BAO Bloomfield Avenue Overlay District is to create a realistic opportunity for the construction of low- and moderate-income housing in a suitable portion of the Borough of North Caldwell, and thereby help to address the fair share housing obligation of the Borough of North Caldwell under the New Jersey Fair Housing Act ("FHA"), applicable Council on Affordable Housing ("COAH") regulations, the settlement agreement entered into between the Borough and Fair Share Housing Center ("FSHC") on December 11, 2018, the Borough's Housing Element and Fair Share Plan, and any applicable order of the Court, including a Judgment of Compliance and Repose Order. The BAO Bloomfield Avenue Overlay District encourages the development of low- and moderate-income housing by allowing for inclusionary multifamily residential above the ground floor; however, developers shall also have the option of developing in accordance with the underlying zone standards.