Deed Restrictions. Affordable "for sale" housing units shall be permanently deed restricted and rental units shall be deed restricted for a minimum of 30 years in accordance with the requirements of N.J.A.C. 5:94 and N.J.A.C. 5:95.
The deed restrictions shall conform with the requirements and format of restrictions established by the New Jersey Council on Affordable Housing. Developers of housing units for low and moderate income households shall enter into a written agreement, binding on all successors-in-interest, in accordance with N.J.A.C. 5:94 et seq., at the time of sale, resale, rental or re-rental regardless of the availability of Federal, State, County or Borough subsidy programs. Affordability controls shall run with the land and shall place limitations upon the resale/rerental of affordable units in accordance with N.J.A.C. 5:94 and by means of any deed restrictions and/or lien documents promulgated by the Council on Affordable Housing.