A.Â
This chapter of the Borough Code sets forth regulations regarding
the low- and moderate-income housing units in the Borough consistent
with the Borough's constitutional obligation to provide a realistic
opportunity for the construction of its fair share of the regional
need for affordable housing for low- and moderate-income households,
the provisions known as the Substantive Rules of the New Jersey Council
on Affordable Housing ("COAH rules"), N.J.A.C. 5:93 et seq.,[1] and the Uniform Housing Affordability Controls ("UHAC"),
N.J.A.C. 5:80-26.1 et seq., except that the requirements for very-low-income
affordable housing as established in P.L. 2008, c. 46 (the "Roberts
Bill," codified at N.J.S.A. 52:27D-329.1) shall supersede those of
the UHAC.
[1]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
B.Â
This chapter is intended to assure that very-low, low- and moderate-income
units ("affordable units") are created with deed restrictions which
preserve affordability over time and that very-low-, low- and moderate-income
households shall occupy these units. This chapter shall apply to all
inclusionary developments and 100% affordable developments (including
those funded with low-income housing tax credit financing) except
where inconsistent with applicable law.
C.Â
The Highland Park Borough Planning Board shall adopt, and the Borough
Council shall subsequently endorse, a Housing Element and Fair Share
Plan pursuant to the Municipal Land Use Law at N.J.S.A. 40:55D-1 et
seq. ("Fair Share Plan"), in accordance with the settlement agreement
entered into between the Borough and the Fair Share Housing Center
("FSHC") on December 22, 2017. The Fair Share Plan describes the magnitude
of the Borough's fair share obligation, as determined by the Superior
Court, and the ways the Borough intends to address its fair share
obligation.
D.Â
This chapter implements and incorporates the Fair Share Plan and
addresses the requirements of N.J.A.C. 5:93, as may be amended and
supplemented.[2]
[2]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
E.Â
The Borough shall file monitoring and status reports with the Superior
Court and FSHC and shall place the reports on its municipal website.
Any Fair Share Plan evaluation or monitoring report prepared by the
Special Master in accordance with N.J.A.C. 5:91[3] shall be available to the public at the Highland Park
Borough Municipal Building, 221 South Fifth Avenue, Highland Park,
New Jersey 08904.
[3]
Editor's Note: Chapter 91, Procedural Rules of the New Jersey
Council on Affordable Housing, expired on April 2, 2008.
F.Â
On or about each anniversary of the Court's filing of the Judgement
of Compliance and Repose through the end of the period of Third Round
Judgment of Repose (July 1, 2025), the Borough will provide annual
reporting of the status of all affordable housing activity within
the municipality through posting on the municipal website with a copy
of such posting provided to all parties to the Borough's Court-approved
settlement agreements, using forms previously developed for this purpose
by the Council on Affordable Housing or any other forms endorsed by
the Special Master and FSHC.
G.Â
The Fair Housing Act includes two provisions regarding action to
be taken by the Borough during the ten-year period of protection provided
in the Borough's agreement with FSHC. The Borough agrees to comply
with those provisions as follows:
(1)Â
By July 6, 2020, the Borough must prepare a midpoint realistic opportunity
review, as required pursuant to N.J.S.A. 52:27D-313, which the Borough
will post on its municipal website, with a copy provided to FSHC,
a status report as to its implementation of its plan and an analysis
of whether any unbuilt sites or unfulfilled mechanisms continue to
present a realistic opportunity. Such posting shall invite any interested
party to submit comments to the municipality, with a copy to FSHC,
regarding whether any sites no longer present a realistic opportunity
and should be replaced and whether any mechanisms to meet unmet need
should be revised or supplemented. Any interested party may by motion
request a hearing before the Court regarding these issues. In the
event the Court determines that a site or mechanism no longer presents
a realistic opportunity and should be replaced or supplemented, then
the municipality shall have the first opportunity to supplement or
revise its plan to correct any deficiency.
(2)Â
Within 30 days of the third and sixth anniversary of the Judgement
of Compliance and Repose, the Borough shall prepare a review of compliance
with the very-low-income housing requirements required by N.J.S.A.
52:27D-329.1 and its settlement agreement with Fair Share Housing
Center. The Borough will post on its municipal website, with a copy
provided to FSHC, a status report as to its satisfaction of its very-low-income
requirements, including the family very-low-income requirements referenced
herein and in the Borough's settlement agreement with FSHC. Such posting
shall invite any interested party to submit comments to the municipality
and FSHC on the issue of whether the municipality has complied with
its very-low-income housing obligation.
As used herein the following terms shall have the following
meanings:
A self-contained residential dwelling unit with a kitchen,
sanitary facilities, sleeping quarters and a private entrance, which
is created within an existing home, or through the conversion of an
existing accessory structure on the same lot as the home, or by an
addition to an existing home or accessory building, or by the construction
of a new accessory structure on the same lot.
The Fair Housing Act of 1985, P.L. 1985, c. 222 (N.J.S.A.
52:27D-301 et seq.).
Constructed in compliance with the technical design standards
of the Barrier Free Subcode, N.J.A.C. 5:23-7.
The entity responsible for the administration of affordable
units in accordance with this chapter, as well as N.J.A.C. 5:91, N.J.A.C.
5:93[1] and N.J.A.C. 5:80-26.1 et seq.
A regional marketing strategy designed to attract buyers
and/or renters of affordable units pursuant to N.J.A.C. 5:80-26.15.
The average percentage of median income at which deed-restricted
units in an affordable housing development are affordable to low-
and moderate-income households.
A sales price or rent within the means of a low- or moderate-income
household as defined in N.J.A.C. 5:93-7.4;[2] in the case of an ownership unit, the sales price for
the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6,
as may be amended and supplemented, and, in the case of a rental unit,
the rent for the unit conforms to the standards set forth in N.J.A.C.
5:80-26.12, as may be amended and supplemented.
A housing development incorporated in the Housing Element
and Fair Share Plan, and including, but not limited to, an inclusionary
development, a municipal construction project or a 100% affordable
development.
Any mechanism in a municipal Fair Share Plan prepared or
implemented to address a municipality's fair share obligation.
A housing unit proposed or created pursuant to the Act, credited
pursuant to N.J.A.C. 5:93,[3] and/or funded through an affordable housing trust fund.
A housing unit designed to meet the needs of, and exclusively
for, the residents of an age-restricted segment of the population
such that: 1) all the residents of the development where the unit
is situated are 62 years old or older; or 2) at least 80% of the units
are occupied by one person that is 55 years old or older (except that
persons younger than 19 may not be permanent residents); or 3) the
development has been designated by the Secretary of the United States
Department of Housing and Urban Development as "housing for older
persons" as defined in Section 807(b)(2) of the Fair Housing Act,
42 U.S.C. § 3607(b)(2).
The New Jersey Housing and Mortgage Finance Agency established
by P.L. 1983, c. 530 (N.J.S.A. 55:14K-1 et seq.).
A structure in which households live in distinct bedrooms,
yet share kitchen and plumbing facilities, central heat and common
areas. Alternative living arrangements include, but are not limited
to: transitional facilities for the homeless, Class A, B, C, D, and
E boarding homes as regulated by the New Jersey Department of Community
Affairs; residential health-care facilities as regulated by the New
Jersey Department of Health and Senior Services; group homes for the
developmentally disabled and mentally ill as licensed and/or regulated
by the New Jersey Department of Human Services; and congregate living
arrangements.
A facility licensed by the New Jersey Department of Health
and Senior Services to provide apartment-style housing and congregate
dining for four or more adult persons unrelated to the proprietor
and to assure that assisted living services are available when needed
and that offers units containing, at a minimum, one unfurnished room,
a private bathroom, a kitchenette and a lockable door on the unit
entrance.
A household that has been certified by an administrative
agent as a low-income household or moderate-income household.
The Council on Affordable Housing, which is in, but not part
of, the Department of Community Affairs of the State of New Jersey,
that was established under the New Jersey Fair Housing Act (N.J.S.A.
52:27D-301 et seq.).
The State of New Jersey Department of Community Affairs.
A housing unit with health and safety code violations that
require the repair or replacement of at least one major system. A
major system includes weatherization, roofing, plumbing (including
wells), heating, electricity, sanitary plumbing (including septic
systems), lead paint abatement and/or load-bearing structural systems.
Any person, partnership, association, company or corporation
that is the legal or beneficial owner of a lot or any land, improved
or unimproved, which is proposed to be included in a proposed development,
including the holder of an option to contract or purchase, or other
person having an enforceable proprietary interest in such land.
The division of a parcel of land into two or more parcels;
the construction, reconstruction, conversion, structural alteration,
relocation, or enlargement of any use or change in the use of any
building or other structure; and any use or change in the use of any
building or other structure, or land or extension of use of land,
for which permission may be required pursuant to N.J.S.A. 40:55D-1
et seq.
Money paid by a developer for the improvement of property
as permitted in N.J.A.C. 5:93-8.[4]
The assessed value of a property divided by the current average
ratio of assessed to true value for the municipality in which the
property is situated, as determined in accordance with Sections 1,
5, and 6 of P.L. 1973, c. 123 (N.J.S.A. 54:1-35a through 54:1-35c).
The plan that describes the mechanisms, strategies and the
funding sources, if any, by which the Borough proposes to address
its affordable housing obligation as established in the housing element,
including the draft ordinances necessary to implement that plan and
addresses the requirements of N.J.A.C. 5:93-5.[5]
Strategies that minimize the impact of development on the
environment and enhance the health, safety and well-being of residents
by producing durable, low-maintenance, resource-efficient housing
while making optimum use of existing infrastructure and community
services.
The portion of the municipality's Master Plan, required by
the Municipal Land Use Law ("MLUL"), N.J.S.A. 40:55D-28b(3) and the
Act, that includes the information required by N.J.A.C. 5:93-5.1[6] and establishes the Borough's fair share obligation.
A development containing both affordable units and market
rate units. This term includes, but is not necessarily limited to:
new construction, the conversion of a nonresidential structure to
residential use and the creation of new affordable units through the
reconstruction of a vacant residential structure.
A household with a total gross annual household income equal
to 50% or less of the median household income for the applicable COAH
housing region.
A deed-restricted unit that is affordable to a low-income
household.
The primary structural, mechanical, plumbing, electrical,
fire protection, or occupant service components of a residential building,
which includes, but is not limited to, weatherization, roofing, plumbing
(including wells), heating, electricity, sanitary plumbing (including
septic systems), lead paint abatement or load-bearing structural systems.
Housing not restricted to low- and moderate-income households
that may sell or rent at any price.
The median income by household size for the applicable COAH
housing region, as approved by the New Jersey Superior Court.
A household with a total gross annual household income in
excess of 50% but less than 80% of the median household income for
the applicable COAH housing region.
A restricted unit that is affordable to a moderate-income
household.
Any sale or transfer of ownership other than the transfer
of ownership between spouses; the transfer of ownership between former
spouses ordered as a result of a judicial decree of divorce or 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 executor's deed to a Class A beneficiary
and the transfer of ownership by court order.
A process (e.g., by lottery) by which income-eligible households
are selected for placement in affordable housing units such that no
preference is given to one applicant over another except for purposes
of matching household income and size with an appropriately priced
and sized affordable unit.
The maximum housing value in each COAH housing region affordable
to a four-person household with an income of at 80% of the regional
median as defined by adopted/approved regional income limits.
The repair, renovation, alteration or reconstruction of any
building or structure, pursuant to the Rehabilitation Subcode, N.J.A.C.
5:23-6, which, for purposes of affordable housing credit, involves
at least one major system of the building or structure.
The gross monthly cost of a rental unit to the tenant, including
the rent paid to the landlord, as well as an allowance for tenant-paid
utilities computed in accordance with allowances published by DCA
for its Section 8 program. In assisted living residences, rent does
not include charges for food and services.
A dwelling unit, whether a rental unit or ownership unit,
that is subject to the affordability controls of N.J.A.C. 5:80-26.1
et seq., as may be amended and supplemented, but does not include
a market-rate unit financed under UHORP or MONI.
An expert appointed by a Superior Court Judge to assist the
Court, the municipality and any intervenors or other interested parties
in applying the Mount Laurel Doctrine, including a determination of
municipal fair share and an evaluation of the effectiveness of the
municipality's Fair Share Plan.
The Uniform Housing Affordability Controls set forth in N.J.A.C.
5:80-26.1 et seq.
A household with a total gross annual household income equal
to 30% or less of the median household income within the applicable
COAH housing region.
A restricted unit that is affordable to a very-low-income
household.
Building insulation (for attic, exterior walls and crawl
space), siding to improve energy efficiency, replacement storm windows,
replacement storm doors, replacement windows and replacement doors,
and is considered a major system for rehabilitation crediting purposes.
[1]
Editor's Note: Editor's Note: Chapter 91, Procedural Rules
of the New Jersey Council on Affordable Housing, expired on April
2, 2008. Chapter 93, Substantive Rules of the New Jersey Council on
Affordable Housing for the Period Beginning June 6, 1994, expired
on October 16, 2016. See: 43 N.J.R. 1203(a).
[2]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
[3]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
[4]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
[5]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
[6]
Editor's Note: Chapter 93, Substantive Rules of the New Jersey
Council on Affordable Housing for the Period Beginning June 6, 1994,
expired on October 16, 2016. See: 43 N.J.R. 1203(a).
The following requirements shall apply to all new or planned
developments that contain both market-rate and low- and moderate-income
housing units.
A.Â
Phasing. Final site plan or subdivision approval shall be contingent
upon the affordable housing development meeting the following phasing
schedule for low- and moderate-income units, whether developed in
a single-phase development or in a multi-phase development:
|
Maximum Percentage of Market-Rate Units Completed
|
Minimum Percentage of Low- and Moderate-Income Units Completed
|
|---|---|
|
25
|
0
|
|
25+1
|
10
|
|
50
|
50
|
|
75
|
75
|
|
90
|
100
|
B.Â
Design. In inclusionary developments, to the extent possible, low-
and moderate-income units shall be integrated with the market units
and shall be no further distant, on average, from common amenities
provided in the development than market-rate units.
C.Â
Payments in lieu and off-site construction. The standards for the
collection of payments in lieu of constructing affordable units or
standards for constructing affordable units off site shall be in accordance
with the requirements below:
(1)Â
The base dollar amount of the payment in lieu of constructing an
affordable unit at the time of adoption of this chapter shall be pursuant
to COAH's regulations and/or the amount in a development pro forma
on file with the Borough Clerk. This amount shall be adjusted periodically
by the Borough to reflect the most current and accurate market conditions
or better cover the cost to the Borough to subsidize affordable housing
construction. The payment shall be imposed as a condition of development
approval by the Planning Board.
(a)Â
During the development approval process, a developer may demonstrate to the governing body that the actual construction cost of an affordable unit less estimated capitalized revenue at the development in question is lower than the imposed payment in lieu in § 86-3C(1). At its discretion, the governing body may impose a payment in lieu amount equal or proximate to the amount estimated by the developer.
D.Â
Utilities.
(1)Â
Affordable units shall utilize the same type of heating source as
market units within the affordable development.
(2)Â
Tenant-paid utilities included in the utility allowance shall be
set forth in the lease and shall be consistent with the utility allowance
approved by HUD for the Section 8 program.
E.Â
Low/moderate split and bedroom distribution of affordable housing
units:
(1)Â
The fair share obligation shall be divided equally between low- and
moderate-income units, except that where there is an odd number of
affordable housing units, the extra unit shall be a low-income unit.
(a)Â
Within rental developments, of the total number of affordable
rental units, at least 13% shall be affordable to very-low-income
households.
(2)Â
In each affordable development, at least 50% of the restricted units
within each bedroom distribution shall be low-income units.
(3)Â
Affordable developments that are not age-restricted shall be structured
such that:
(a)Â
The combined number of efficiency and one-bedroom units shall
be no greater than 20% of the total low- and moderate-income units;
(b)Â
At least 30% of all low- and moderate-income units shall be
two-bedroom units;
(c)Â
At least 20% of all low- and moderate-income units shall be
three-bedroom units; and
(d)Â
The remaining units may be allocated among two- and three-bedroom
units at the discretion of the developer.
(4)Â
Affordable developments that are age-restricted shall be structured
such that the number of bedrooms shall equal the number of age-restricted
low- and moderate-income units within the inclusionary development.
The standard may be met by having all one-bedroom units or by having
a two-bedroom unit for each efficiency unit.
F.Â
Accessibility requirements:
(1)Â
The first floor of all new restricted townhouse dwelling units and
all restricted multistory dwelling units attached to at least one
other dwelling unit shall be subject to the technical design standards
of the Barrier Free Subcode, N.J.A.C. 5:23-7.
(2)Â
All restricted townhouse dwelling units and all restricted multistory
dwelling units attached to at least one other dwelling unit shall
have the following features:
(a)Â
An adaptable toilet and bathing facility on the first floor;
(b)Â
An adaptable kitchen on the first floor;
(c)Â
An interior accessible route of travel on the first floor;
(d)Â
An interior accessible route of travel shall not be required
between stories within an individual unit;
(e)Â
An adaptable room that can be used as a bedroom, with a door
or the casing for the installation of a door, on the first floor;
and
(f)Â
An accessible entranceway as set forth at P.L. 2005, c. 350
(N.J.S.A. 52:27D-311a et seq.), and the Barrier Free Subcode, N.J.A.C.
5:23-7, or evidence that the Borough has collected funds from the
developer sufficient to make 10% of the adaptable entrances in the
development accessible.
[1]Â
Where a unit has been constructed with an adaptable entrance,
upon the request of a disabled person who is purchasing or will reside
in the dwelling unit, an accessible entrance shall be installed.
[2]Â
To this end, the builder of restricted units shall deposit funds
within the Borough of Highland Park's affordable housing trust fund
sufficient to install accessible entrances in 10% of the affordable
units that have been constructed with adaptable entrances.
[3]Â
The funds deposited under Subsection F(2)(f)[2] herein shall be used by the Borough for the sole purpose of making the adaptable entrance of any affordable unit accessible when requested to do so by a person with a disability who occupies or intends to occupy the unit and requires an accessible entrance.
[4]Â
The developer of the restricted units shall submit a design
plan and cost estimate for the conversion from adaptable to accessible
entrances to the construction official of the Borough of Highland
Park.
[5]Â
Once the construction official has determined that the design
plan to convert the unit entrances from adaptable to accessible meets
the requirements of the Barrier Free Subcode, N.J.A.C. 5:23-7, and
that the cost estimate of such conversion is reasonable, payment shall
be made to the Borough of Highland Park's affordable housing trust
fund in care of the Municipal Treasurer, who shall ensure that the
funds are deposited into the affordable housing trust fund and appropriately
earmarked for the intended purpose.
(g)Â
Full compliance with the foregoing provisions shall not be required
where an entity can demonstrate that it is site impracticable to meet
the requirements on the site. Determinations of site impracticability
shall be in compliance with the Barrier Free Subcode, N.J.A.C. 5:23-7.
G.Â
Maximum rents and sales prices.
(1)Â
In establishing rents and sales prices of affordable housing units,
the administrative agent shall follow the procedures set forth in
UHAC and by the Superior Court, utilizing the established regional
income limits.
(2)Â
The maximum rent for restricted rental units within each affordable
development shall be affordable to households earning no more than
60% of median income, and the average rent for restricted low- and
moderate-income units shall be affordable to households earning no
more than 52% of median income.
(3)Â
The developers and/or municipal sponsors of restricted rental units
shall establish at least one rent for each bedroom type for both low-income
and moderate-income units.
(a)Â
At least 13% of all low- and moderate-income rental units shall
be affordable to households earning no more than 30% of median income.
(4)Â
The maximum sales price of restricted ownership units within each
affordable development shall be affordable to households earning no
more than 70% of median income, and each affordable development must
achieve an affordability average of 55% for restricted ownership units;
in achieving this affordability average, moderate-income ownership
units must be available for at least three different prices for each
bedroom type, and low-income ownership units must be available for
at least two different prices for each bedroom type.
(5)Â
In determining the initial sales prices and rents for compliance
with the affordability average requirements for restricted units other
than assisted living facilities, the following standards shall be
met:
(a)Â
A studio or efficiency unit shall be affordable to a one-person
household;
(b)Â
A one-bedroom unit shall be affordable to a 1Â 1/2 person
household;
(c)Â
A two-bedroom unit shall be affordable to a three-person household;
(d)Â
A three-bedroom unit shall be affordable to a 4Â 1/2 person
household; and
(e)Â
A four-bedroom unit shall be affordable to a six-person household.
(6)Â
In determining the initial rents for compliance with the affordability
average requirements for restricted units in assisted living facilities,
the following standards shall be met:
(7)Â
The initial purchase price for all restricted ownership units shall
be calculated so that the monthly carrying cost of the unit, including
principal and interest (based on a mortgage loan equal to 95% of the
purchase price and the Federal Reserve H.15 rate of interest), taxes,
homeowner and private mortgage insurance and condominium or homeowner
association fees do not exceed 28% of the eligible monthly income
of the appropriate size household as determined under N.J.A.C. 5:80-26.4,
as may be amended and supplemented; provided, however, that the price
shall be subject to the affordability average requirement of N.J.A.C.
5:80-26.3, as may be amended and supplemented.
(8)Â
The initial rent for a restricted rental unit shall be calculated
so as not to exceed 30% of the eligible monthly income of the appropriate
household size as determined under N.J.A.C. 5:80-26.4, as may be amended
and supplemented; provided, however, that the rent shall be subject
to the affordability average requirement of N.J.A.C. 5:80-26.3, as
may be amended and supplemented.
(9)Â
The price of owner-occupied low- and moderate-income units may increase
annually based on the percentage increase in the regional median income
limit for each housing region. In no event shall the maximum resale
price established by the administrative agent be lower than the last
recorded purchase price.
Income limits for all units for which income limits are not
already established through a federal program exempted from the Uniform
Housing Affordability Controls pursuant to N.J.A.C. 5:80-26.1 et seq.
shall be updated by the Borough annually within 30 days of the publication
of determinations of median income by HUD as follows:
(a)Â
Regional income limits shall be established for the Region 3
based on the median income by household size, which shall be established
by a regional weighted average of the uncapped Section 8 income limits
published by HUD. To compute this regional income limit, the HUD determination
of median county income for a family of four is multiplied by the
estimated households within the county according to the most recent
decennial Census. The resulting product for each county within the
housing region is summed. The sum is divided by the estimated total
households from the most recent decennial census in Region 3. This
quotient represents the regional weighted average of median income
for a household of four. The income limit for a moderate-income unit
for a household of four shall be 80% of the regional weighted average
median income for a family of four. The income limit for a low-income
unit for a household of four shall be 50% of the HUD determination
of the regional weighted average median income for a family of four.
The income limit for a very-low-income unit for a household of four
shall be 30% of the regional weighted average median income for a
family of four. These income limits shall be adjusted by household
size based on multipliers used by HUD to adjust median income by household
size. In no event shall the income limits be less than those for the
previous year.
(b)Â
The income limits calculated each year shall be the result of applying the percentages set forth in Subsection G(9)(a) above to HUD's determination of median income for the relevant fiscal year, and shall be utilized until the Borough updates the income limits after HUD has published revised determinations of median income for the next fiscal year.
(c)Â
The regional asset limit used in determining an applicant's eligibility for affordable housing pursuant to N.J.A.C. 5:80-26.16(b)3 shall be calculated by the Borough annually by taking the percentage increase of the income limits calculated pursuant to Subsection G(9)(a) above over the previous year's income limits, and applying the same percentage increase to the regional asset limit from the prior year. In no event shall the regional asset limit be less than that for the previous year.
(10)Â
The rent levels of very-low-, low- and moderate-income units may
be increased annually based on the percentage increase in the Housing
Consumer Price Index for the Northeast Urban Area, upon its publication
for the prior calendar year. This increase shall not exceed 9% in
any one year. Rents for units constructed pursuant to low-income-housing
tax credit regulations shall be indexed pursuant to the regulations
governing low-income-housing tax credits.
A.Â
For any affordable housing unit that is part of a condominium association
and/or homeowner's association, the master deed shall reflect that
the association fee assessed for each affordable housing unit shall
be established at 100% of the market rate fee.
