N.J. Admin. Code § 19:31V-1.22

Current through Register Vol. 56, No. 24, December 18, 2024

Section 19:31V-1.22 - Affordability controls: household selection; related project information

(a) The developer or subsequent owner of the affordable development shall obtain all information from applicant households necessary and appropriate to determine that restricted units are occupied by properly sized households with appropriate low- or moderate-income levels.

(b) When reviewing an applicant household's income to determine eligibility, the developer or subsequent owner of the affordable development shall compare the applicant household's total gross annual income to the household limits then in effect. For the purposes of this subchapter, income and assets, and verification of same, shall be defined and calculated as set forth by the Agency for Federal low-income housing tax credits.

(c) Households shall also be required to produce documentation of household composition for determining the correct unit size and applicable median income guide.

(d) The following information shall be maintained by the developer or subsequent owner of the affordable development and shall be provided to the Agency or the Authority upon request:

1. The total number of units in the redevelopment project, and number of restricted units, broken down by bedroom size, identifying which are moderate-, low-, and very low-income units, and including street addresses of restricted units;

2. Floor plans of all restricted units, including complete and accurate identification of uses and dimensions of all rooms;

3. A project map identifying the locations of restricted units and market units;

4. Proposed rent for all units;

5. Any maintenance or other fees;

6. Sewer, trash disposal, and any other utility assessments;

7. A description of all HVAC systems;

8. Location of any common areas and elevators;

9. Proposed form of lease; and

10. The name of the person who is responsible for compliance with the affordability controls.

(e) The developer or subsequent owner of the affordable development shall employ a random selection process when selecting prospective tenants for restricted units.

N.J. Admin. Code § 19:31V-1.22

Recodified from 19:31-23A.22 56 N.J.R. 807(a), effective 5/6/2024