Toms River City Zoning Code
§ 348-11.1
Purpose and definitions.
A.
This section of the Township of Toms River Code sets forth regulations regarding low- and moderate-income housing units in Toms River Township that are consistent with the provisions known as the "Substantive Rules of the New Jersey Council on Affordable Housing," N.J.A.C. 5:93 et seq., and the Uniform Housing Affordability Controls, N.J.A.C. 5:80-26.1 et seq. These rules are pursuant to the Fair Housing Act of 1985 and Toms River Township's constitutional obligation to provide for its fair share of low- and moderate-income housing. In addition, this section applies to requirements for very-low-income housing as established in P.L. 2008, c.46.[1]
[1]
Editor's Note: See N.J.S.A. 40:55D-8.1 through 40:55D-8.7.
B. AFFORDABLE HOUSING ADMINISTRATOR (AH ADMINISTRATOR) DEVELOPER'S AFFORDABLE HOUSING PLAN EXEMPT SALES FAIR MARKET VALUE INCLUSIONARY DEVELOPMENT LOW-INCOME HOUSING MODERATE-INCOME HOUSING PRICE DIFFERENTIAL REPAYMENT CLAUSE REPAYMENT OPTION SET ASIDE UNIT COMPLETION
Terms defined. The following terms are defined in accordance with Council on Affordable Housing (COAH) rules and the Uniform Housing Affordability Controls:
The Township Planner of the Township of Toms River, other municipal official(s) and/or designee(s) appointed or contracted by the Township Council of the Township of Toms River to administer the compliance and/or implementation of the Township's affordable housing plan.
A plan submitted by the developer and approved by the Affordable Housing Management Service of the State of New Jersey, Department of Community Affairs, which shall identify the manner in which the developer plans to develop, price, market and restrict the low- and moderate-income dwelling units in accordance with this article.
Includes the transfer of ownership between husband and wife and transfers of ownership between former spouses as a result of a judicial decree of divorce or a judicial separation but not including sales to third parties; the transfer of ownership between family members as a result of inheritance; the transfer of ownership through an executors deed to a Class A beneficiary and a transfer of ownership by court order.
The unrestricted price of a low- or moderate-income housing unit if sold at a current real estate market rate.
A residential housing development in which a percentage of the housing units are reserved for low- and moderate-income households.
Housing affordable according to Council on Affordable Housing (COAH) standards for homeownership and rental costs and occupied or reserved for occupancy by households with a gross household income equal to 50% or less of the median gross household income for households the same size within the housing region in which the house is located in and subject to affordability controls.
Housing affordable according to Council on Affordable Housing (COAH) standards for homeownership and rental costs and occupied or reserved for occupancy by households with a gross household income of more than 50% but less than 80% of the median gross household income for households of the same size within the housing region in which the house is located and subject to affordability control.
The difference between the controlled unit sale price and the fair market value as determined at the date of the proposed contract sale after reasonable real estate broker fees have been paid.
Obligation of a seller exercising the repayment option to pay 95% of the price differential to a municipality at closing for use within the municipal housing plan.
The option of a seller of a low- or moderate-income unit to sell a unit pursuant to N.J.A.C. 5:93-9.8 et seq. at a fair market value subject to compliance with the terms of the repayment clause.
The percentage of housing units devoted to low- and moderate-income households within an inclusionary development.
The receipt of any temporary or final certificate of occupancy.