Program Affordability Controls

Requirements

Ten-year controls on affordability on both owner-occupied units and rental units are required. For rental units, the controls on affordability shall be in the form of a deed restriction and may also include a lien. If a unit is vacant upon initial rental subsequent to rehabilitation, or if a renter-occupied unit is re-rented prior to the end of controls on affordability, the deed restriction shall require the unit to be rented to a low- or moderate- income household at an affordable price and affirmatively marketed pursuant to the NJ.A.C. 5:97-9. Rents in rehabilitated units may increase annually based on the standards in NJ.A.C. 5:97-9.