D. General provisions for constructing affordable units in inclusionary developments.

(1) Affordable housing units being constructed on site or off site shall meet the requirements of the Colts Neck affordable housing regulations in § 102-97.1, Lower-income housing for new inclusionary developments, and shall be in conformance with COAH's third-round rules at N.J.A.C. 5:97-1 et seq. and the Uniform Housing Affordability Controls at N.J.A.C. 5:80-26.1 et seq., as revised, including, but not limited to, requirements regarding phasing schedules, controls on affordability, very low/low/moderate income split, heating source, maximum rent and/or sales prices, affordability average, bedroom distribution, and affirmative marketing.

(2) To the greatest extent possible, affordable housing units being provided within an inclusionary development shall be distributed throughout the inclusionary development and shall be located within buildings designed to be architecturally similar to the market-rate units otherwise being constructed within the development. To that end, architectural detailing (such as the selection of exterior materials, doors, windows, roof pitch, etc.) of the buildings containing the affordable housing units shall be similar to and compatible with that of the market-rate units.

(3) For developments in which one affordable housing unit is required under this section, that unit shall be affordable to a low-income household and shall be in conformance with the affordable housing regulations in Subsection D(1) above.

(4) Affordable housing units constructed off site shall meet the zoning requirements established in the Schedule of Limitations, § 102-87.

(5) In developments where a density bonus lot is permitted per §102-46.6C(1) and affordable housing units are constructed on site and/or off-site, the minimum lot size, lot frontage and lot width may be reduced as follows: [Amended 11-30-2011]

(a) Not greater than 50% from the applicable minimum zoning requirements for the affordable lot.

(b) Not greater than 25% from the applicable minimum zoning requirements for the market rate bonus lot and remaining market rate lots.

An example is as follows:

Conventional Subdivision (A-1 Zone - 88,000 square feet in area/300 feet of frontage and width)

Affordable, Market Rate And Bonus Lot Subdivision (A-1 Zone)

(6) In developments where a density bonus lot is permitted per § 102-46.6C(1) and affordable housing units are constructed on site and/or off-site, the minimum side yard shall be 40 feet. [Amended 11-30-2011]

E. Payment in lieu provisions.

(1) Any payment in lieu of construction of an affordable housing unit shall be derived from calculations for payments in lieu of constructing affordable housing as published in N.J.A.C. 5:97-6.4(c)3 for COAH Region 4, as may be amended from time to time.

(2) All payments in lieu of constructing affordable housing shall be deposited by Colts Neck into the Round 3 Colts Neck Affordable Housing Trust Fund in accordance with § 102-15C(6), Housing trust funds. These funds shall be used by Colts Neck in accordance with regulations established by COAH to create new affordable housing opportunities within the physical boundaries of Colts Neck.