that the equity share may not be less than five percent and may not exceed 30
percent.
“Exit sale” means the first authorized non-exempt sale of a restricted unit following
the end of the control period, which sale terminates the affordability controls on the
unit.
“Exclusionary zoning litigation” means litigation challenging the fair share plan,
housing element, ordinances, or resolutions that implement the fair share plan or
housing element of a municipality based on alleged noncompliance with the Act or
the Mount Laurel doctrine, which litigation shall include, but shall not be limited to,
litigation seeking a builder’s remedy.
“Extension of expiring controls” means extending the deed restriction period on units
where the controls will expire in the current round of a housing obligation, so that the
total years of a deed restriction is at least 60 years.
“Fair share obligation” means the total of the present need and prospective need,
including prior rounds, as determined by the Affordable Housing Dispute Resolution
Program, or a court of competent jurisdiction.
“Fair share plan” means the plan or proposal, with accompanying ordinances and
resolutions, by which a municipality proposes to satisfy its constitutional obligation to
create a realistic opportunity to meet its fair share of low- and moderate-income
housing needs of its region and which details the affirmative measures the
municipality proposes to undertake to achieve its fair share of low- and moderate-
income housing, as provided in the municipal housing element, and which
addresses the development regulations necessary to implement the housing
element, including, but not limited to, inclusionary requirements and development
fees, and the elimination of unnecessary housing cost-generating features from the
municipal land use ordinances and regulations.
“FHA” means the New Jersey Fair Housing Act, N.J.S.A. 52:27D-301 et seq.
“Green Building Strategies” means the 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.
“HMFA” or “the Agency” means the New Jersey Housing and Mortgage Finance
Agency established pursuant to P.L. 1983, c. 530 (N.J.S.A. 55:14K-1 et seq.).
“Household income” means a household’s gross annual income calculated in a
manner consistent with the determination of annual income pursuant to section 8 of
the United States Housing Act of 1937 (Section 8), not in accordance with the
determination of gross income for Federal income tax liability.
“Housing element” means the portion of a municipality’s master plan adopted in
accordance with the Municipal Land Use Law (MLUL) at N.J.S.A. 40:55D-28.b(3)
and the Act consisting of reports, statements proposals, maps, diagrams, and text
designed to meet the municipality’s fair share of its region’s present and prospective
housing needs, particularly with regard to low- and moderate-income housing, which
shall include the municipal present and prospective obligation for affordable housing,
determined pursuant to subsection f. at N.J.S.A. 52:27D-304.1.