The Borough of Maywood shall provide annual reporting of Affordable
Housing Trust Fund activity to the State of New Jersey, Department
of Community Affairs, Council on Affordable Housing or Local Government
Services or other entity designated by the State of New Jersey, with
a copy provided to Fair Share Housing Center and posted on the municipal
website, using forms developed for this purpose by the New Jersey
Department of Community Affairs, Council on Affordable Housing or
Local Government Services. The reporting shall include an accounting
of funds collected and the amounts and purposes for which any funds
have been expended. Such reporting shall include an accounting of
development fees collected from residential and nonresidential developers,
payments in lieu of constructing affordable units on-site (if permitted
by ordinance or by agreement with the Borough), funds from the sale
of units with extinguished controls, barrier free escrow funds, rental
income from Borough-owned affordable housing units, repayments from
affordable housing program loans, any other funds collected in connection
with Maywood's affordable housing programs, as well as an accounting
of the expenditures of revenues and implementation of the spending
plan approved by the Court.