Planning Board Resolution Memorializing the HEFSP #20-08

I. PREFACE A municipality’s affordable housing obligation is cumulative and includes affordable housing need for the period 1987 to 2025. The affordable housing obligation consists of three components: e Rehabilitation Obligation e Prior Round Obligation (1987-1999) e Gap (1999-2015) + Prospective Need (201 5-2025) or Round 3 Obligation A municipality’s Rehabilitation Obligation is a measure of old, crowded, deficient housing that is occupied by low- and moderate-income households. Rehabilitation Obligation numbers from each prior round are replaced with the latest round number because the numbers are updated with each decennial census. A municipality may receive credit for rehabilitation of low- and moderate-income deficient housing units completed after April 1, 2010 provided the units were rehabilitated up to the applicable code standard, the average capital cost spent on rehabilitating the units was at least $10,000 and the units have the appropriate controls on affordability to ensure that the units remain affordable during the required period of time. Rehabilitation credits cannot exceed the Rehabilitation Obligation, and can only be credited against the Rehabilitation Obligation. Such credits cannot be counted as new construction affordable housing credits. The Prior Round Obligation is the municipal new construction obligation from 1987 to 1999. Prior Round obligations were calculated by COAH, and the last numbers calculated by COAH for the Prior Round have been accepted in settlement agreements between FSHC and municipalities across the state. Credits, reductions and adjustments may still be applied against the Prior Round Obligation (1987-1999) for affordable housing activity undertaken from 1980 to 1999. The Round 3 Obligation covers the period from 1999 to 2025. All of the Affordable Housing Obligations in this Housing Element and Fair Share Plan were negotiated and agreed upon in the Court- approved FSHC Settlement Agreement. 4852-5689-4161, v. 1