New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 13 - LIMITED DIVIDEND AND NONPROFIT HOUSING CORPORATIONS AND ASSOCIATIONS AND URBAN RENEWAL ENTITIES › Subchapter 1 - GENERAL PROVISIONS › Section 5:13-1.1 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this chapter, shall
				  have the following meanings, unless the context clearly indicates otherwise.
"Act" means the statute under which a housing sponsor was
				  organized. In the case of a housing sponsor created on or before April 17, 1992,
				  "act" means the Limited-Dividend Nonprofit Housing Corporations or Associations Law,
				  P.L. 1949, c.184, which was repealed by P.L. 1991, c.431, but the requirements of
				  which continue to be applicable to housing projects organized and operating under it
				  (see chapter Appendix). In the case of a housing sponsor created after April 17,
				  1992, "act" means the Long Term Tax Exemption Law, P.L. 1991, c.431.
"Affordable" means capable of being afforded without undue burden
				  by a household at any given level of income. A rental unit shall be considered to be
				  affordable if the monthly rent, together with any utility charges paid by the
				  tenant, does not exceed 30 percent of monthly household income.
"Authority" means the Public Housing and Development Authority
				  within the Department of Community Affairs.
"Blighted area" means any area or part of any area, together with
				  building or buildings thereon, which is blighted, as defined by any law of the State
				  of New Jersey.
"Cooperative" means any corporation herein defined, the projects
				  of which have been financed under Section 213 of the National Housing Act or any
				  other Federal law, or under any State law or any incorporated or unincorporated
				  association of three or more persons, not for pecuniary profit, organized pursuant
				  to any law of the State or the Federal government for the primary purpose of
				  providing housing accommodations for its members, stockholders and others, and for
				  the operation, management and maintenance of same.
"Equity," when used with reference to the return payable to an
				  investor in a limited dividend housing corporation or association, means the value
				  of the cash and/or property, including without limitation intangible property such
				  as services, contributed by or on behalf of the investor in exchange for a
				  proprietary interest in the corporation or association.
"Family" means the definition of family determining eligibility
				  for occupancy in a housing project as prescribed by a Federal or State agency or any
				  other public source, which is primarily responsible for financing, or insurance of
				  the financing of such project.
"Federal Administrator" means the Administrator of Federal Housing
				  Administration, his successors, officials, employees or agents.
"FHA" means the Federal Housing Administration in the United
				  States Department of Housing and Urban Development.
"Gross shelter rent" means the gross rent or carrying charges less
				  the cost of utilities furnished by the project utilities shall include gas and
				  electricity if supplied by the project; cost of heating fuel, cost of water supplied
				  and sewage charges, if any.
"HMFA" means the New Jersey Housing and Mortgage Finance Agency
				  in, but not of the Department of Community Affairs.
"Housing association" means any limited distribution or non-profit
				  partnership, limited partnership, limited partnership association, trust, single
				  proprietorship or other unincorporated association organized in accordance with the
				  provisions of the Act.
"Housing corporation" means any private, limited-dividend or
				  nonprofit housing corporation organized in accordance with the provisions of the
				  Act.
"Housing sponsor" means any housing corporation or association as
				  defined in this Section.
"Income limits" means the income limits determining eligibility
				  for occupancy in a housing project as prescribed by a Federal or State agency or any
				  other public source which is primarily responsible for the financing or the
				  insurance of the financing of the project.
"Lease" means any agreement made by and between a corporation or
				  association formed under the Act and any person or persons in connection with the
				  right of occupancy to any unit in a project of such corporation or association and
				  shall include for the purpose hereof any occupancy agreement between a member or
				  stockholder of a corporation formed under the Act as a cooperative, entitling such
				  member or stockholder to the right to occupy a particular unit in a project
				  constructed by such corporation.
"Mortgage" shall include "Deed of Trust".
"Mortgaged property" includes all property, real or personal,
				  covered by a mortgage and all personal property belonging to the project and used in
				  connection with the furnishing of a project constructed under Section 202 of the
				  Housing Act of 1959.
"Principal wage earner" means only the actual family head and for
				  the purpose hereof shall include, in addition to said actual family head, his or her
				  husband or wife, if any; provided however, this definition shall apply only to
				  cooperative type projects financed under an FHA insured (Section 213)
				  mortgage.
"Project" means any work or undertaking whether new construction
				  or rehabilitation to provide decent; safe and sanitary dwelling units for families
				  in need of housing; including any buildings, land (including demolition, clearance
				  or removal of buildings from land), equipment, facilities or other real or personal
				  properties which are necessary, convenient or desirable appurtenances, such as, but
				  not limited to, streets, sewers, water, utilities, parks, site preparation,
				  landscaping and administrative, community health, recreational, educational,
				  welfare, commercial or other facilities, or to provide any part or combination of
				  the foregoing.
"Range of affordability" means the household income, expressed as
				  a percentage of the median income as adjusted by geographical region and family size
				  in accordance with HUD Section 8 Income Guidelines or N.J.A.C. 5:92, at which a
				  given unit is affordable. The lower the percentage of median income, the greater is
				  the range of affordability.
"Regulatory agreement" means any agreement entered into by a
				  housing sponsor and the Authority, or with any State or Federal agency with the
				  approval of the Authority, setting forth terms and conditions under which the
				  development and operation of a project may function, which terms and conditions may
				  expressly supersede provisions of this chapter that would otherwise be
				  applicable.
"Rent" means the amount paid under a lease or occupancy agreement
				  by a tenant for the purpose of entitling such tenant to occupy a particular unit in
				  a project and shall include, for the purposes hereof, the carrying charges assessed
				  by a corporation as a cooperative against any member or stockholder thereof for
				  occupancy of a particular unit in the project.
"Service charge" means moneys paid by a housing corporation or
				  housing association to a municipality in which the project of such housing
				  corporation or housing association is located, in lieu of taxes, where the housing
				  corporation or housing association is entitled to tax exemption under Section 18 of
				  the Act.
"State" means the State of New Jersey.
"State Administrator" means the administrator of the Public
				  Housing and Development authority who is also the Commissioner of the Department of
				  Community Affairs, State of New Jersey.
"State Deputy Administrator" means the Deputy Administrator of the
				  Public Housing and Development Authority, who is also the Director of the Division
				  of Codes and Standards, Department of Community Affairs, State of New Jersey.
"Tenant" means any person having a lease or entitled to occupancy
				  under an occupancy agreement and shall include any member or stockholder of a
				  corporation as a cooperative entitled to occupancy in any unit in a project built
				  under the Act.