N.J. Admin. Code § 19:31V-1.15

Current through Register Vol. 56, No. 12, June 17, 2024

Section 19:31V-1.15 - Affordability controls: documentation and monitoring

(a) Developers and any subsequent owner of the affordable development shall retain all documentation and evidence necessary to demonstrate compliance with the affordability controls for the duration of the deed restriction set forth at N.J.A.C. 19:31V-1.18 and shall provide such documentation and evidence as set forth in this subchapter or at the request of the Agency or the Authority.

(b) As set forth in this subchapter, the Agency may serve as a monitoring entity acting to report to the Authority compliance with the affordability controls. Notwithstanding such monitoring by the Agency, enforcement of any and all requirements pursuant to this subchapter shall be the responsibility of the Authority.

Recodified from 19:31-23A.15 56 N.J.R. 807(a), effective 5/6/2024