In establishing rents and sales prices of affordable housing units, the Administrative Agent shall follow the procedures set forth in UHAC N.J.A.C. 5:80-26.4.

The average rent for all restricted units within each affordable housing development shall be affordable to households earning no more than 52 percent of regional median income.

The maximum rent for restricted rental units within each affordable housing development shall be affordable to households earning no more than 60% of regional median income.

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, provided that at least 13% of all low- and moderate-income rental units shall be affordable to households earning no more than 30% of median income. These very low-income units shall be part of the low-income requirement and very-low-income units should be distributed between each bedroom count as proportionally as possible, to the nearest whole unit, to the total number of restricted units within each bedroom count.

The maximum sales price of restricted ownership units within each affordable housing development shall be affordable to households earning no more than 70% of median income, and each affordable housing development must achieve an affordability average that does not exceed 55% for all 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 when the number of low- and moderate-income units permits.

The master deeds and declarations of covenants and restrictions for affordable developments may not distinguish between restricted units and market-rate units in the calculation of any condominium or homeowner association fees and special assessments to be paid by low- and moderate-income purchasers and those to be paid by market-rate purchasers. Notwithstanding the foregoing sentence, condominium units subject to a municipal ordinance adopted before December 20, 2004, which ordinance provides for condominium or homeowner association fees and/or assessments different from those provided for in this subsection are governed by the ordinance.

In determining the initial sales prices and rents for compliance with the affordability average requirements for restricted family units, the following standards shall be met:

1. a.

   A studio or efficiency unit shall be affordable to a one-person household;

2. b.

   A one-bedroom unit shall be affordable to a one and one-half person household;

3. c.

   A two-bedroom unit shall be affordable to a three-person household;

4. d.

   A three-bedroom unit shall be affordable to a four and one-half person household; and