In Holmdel Builders Association v. Holmdel, 121 N.J. 550 (1990),
the New Jersey Supreme Court determined that mandatory development
fees are authorized by the Fair Housing Act of 1985, N.J.S.A. 52:27D-301
et seq., and the State Constitution, subject to the Committee on Affordable
Housing development rules. The purpose of this article is to establish
standards for the collection, maintenance, and expenditure of development
fees pursuant to COAH's rules. Fees collected pursuant to this article
shall be used for the sole purpose of providing low- and moderate-income
housing. This article shall be interpreted within the framework of
COAH's rules on development fees.
As used in this article, the following terms shall have the
meanings indicated:
COAH
The New Jersey Council on Affordable Housing established
under the Fair Housing Act of 1985.
DEVELOPMENT FEE
Money paid by an individual, person, partnership, association,
company, or corporation for the improvement of property as permitted
by COAH rules and regulations, N.J.A.C. 5:94-6 et seq.
EQUALIZED ASSESSED VALUE
The value of property determined by the Municipal Tax Assessor
through a process designed to ensure that all property in the City
of Englewood is assessed at the same assessment ratio or ratios required
by law. Estimates at the time of a construction permit may be obtained
by the Tax Assessor utilizing estimates for construction cost.
The City of Englewood shall complete and return to COAH all
monitoring forms included in the annual monitoring report related
to the collection of development fees from residential and nonresidential
developers, payments in lieu of constructing affordable units on site,
and funds from the sale of units with extinguished controls, and the
expenditure of revenues and implementation of the plan certified by
COAH. All monitoring reports shall be completed on forms designed
by COAH.
This article shall expire if:
A. COAH dismisses or denies the City's petition for substantive certification.
B. COAH revokes substantive certification or this article.
C. The substantive certification expires prior to the City's filing
an adopted housing element with COAH, petitioning for substantive
certification, or receiving COAH's approval of this article.