Ordinance No. 17-10

Introduced: July 1, 2010
Public Hearing: August 5, 2010
Status: Adopted

An ordinance amending Section 15-20.7.J. of the Land Development Ordinance of the Township of Randolph

WHEREAS, Section 15-20.7 of the Land Development Ordinance of the Township of Randolph contains controls governing the affordability of units developed in the Township of Randolph available to persons of low and moderate income; and

WHEREAS, Section 15-20.7.J. governs the expiration of resale and rental controls; and

WHEREAS, Section 15-20.7.J. is inconsistent with current regulations promulgated by the New Jersey Council on Affordable Housing (“COAH”) on the expiration of resale controls; and

WHEREAS, the Township of Randolph desires to amend Section 15-20.7.J. to be consistent with COAH’s current regulations on the expiration of resale controls.

NOW, THEREFORE, BE IT ORDAINED by the Governing Body of the Township of Randolph, County of Morris, State of New Jersey as follows:

SECTION ONE. Section 15-20.7.J., Expiration of Resale and Rental Controls, of the Land Development Ordinance of the Township of Randolph, Morris County, New Jersey is hereby deleted in its entirety and replaced with the following:

J. Expiration of resale controls. The owner of a low or moderate income unit must notify the Township of Randolph, the State of New Jersey Department of Community Affairs, the New Jersey Housing and Mortgage Finance Agency and the New Jersey Council on Affordable Housing of their intent to sell a low or moderate income unit 90 days prior to entering into an agreement for the first sale after resale controls have expired. If the Township of Randolph, the State of New Jersey Department of Community Affairs, the New Jersey Housing and Mortgage Finance Agency or the New Jersey Council on Affordable Housing fail to exercise this option to purchase the low or moderate income units within 90 days, the unit may be sold to a purchaser at fair market value, PROVIDED, HOWEVER, THAT 95% of the difference between the fair market value of the unit at the time of closing and the price at which the unit could be sold if it were subject to resale controls shall be paid to the Township of Randolph at closing, which shall be utilized and dedicated by the Township solely for the purpose of the promotion of low and moderate income housing. The Township may have an appraiser determine whether the unit is in fact being sold for the fair market value. The payment shall be made to the Township of Randolph on the day of closing of the first sale after the resale controls expire.

SECTION TWO. All ordinances or parts of ordinances in conflict or inconsistent with any part of this Ordinance are hereby repealed to the extent that they are in such conflict or inconsistent.

SECTION THREE. This Ordinance may be renumbered for codification purposes.

SECTION FOUR. In the event that any section, part or provision of this Ordinance shall be held to be unenforceable or invalid by any court, such holding shall not affect the validity of this Ordinance as a whole, or any part thereof, other than the part so held unenforceable or invalid.

SECTION FIVE. This Ordinance shall take effect 20 days after passage and publication as provided by law.

ATTEST

_____________________________
Donna Marie Luciani, Township Clerk

TOWNSHIP OF RANDOLPH

_____________________________
Jay Alpert, Mayor

LEGAL NOTICE
TOWNSHIP OF RANDOLPH, COUNTY OF MORRIS
ORDINANCE NO. 17-10

NOTICE IS HEREBY GIVEN that an Ordinance entitled “An Ordinance Amending Section 15-20.7.J. Of The Land Development Ordinance of the Township of Randolph” was submitted in writing at a regular meeting of the Mayor and Council of the Township of Randolph, County of Morris, State of New Jersey, held on July 1, 2010 and was introduced, read by title and passed on first reading. A Statement of Purpose of the Ordinance is contained below. The Governing Body of the Township of Randolph will further consider the Ordinance for second reading and final passage thereof at their regular meeting to be held on August 5, 2010 at 8 p.m. prevailing time, at the Municipal Building, 502 Millbrook Avenue, Randolph, New Jersey 07869, at which time and place a public hearing will be heard thereon by the Governing Body and all parties in interest and citizens shall have an opportunity to be heard concerning said Ordinance.

Statement of Purpose of Ordinance

The purpose of the above Ordinance is to amend Section to amend Section 15-20.7.J. to be consistent with COAH’s current regulations on the expiration of resale controls.

A copy of the full Ordinance is available to any member of the general public, without cost, at the Township of Randolph, Municipal Building, Millbrook Avenue, Randolph, New Jersey, at the Office of the Township Clerk, between the hours of 9:00 a.m. and 4:30 p.m.

_____________________________
Donna Marie Luciani, Township Clerk
Township of Randolph
County of Morris, State of New Jersey