V4 01 Proposal 1 30 2023 2923862_3

7 2923862.3 116173-101909  Phase Three will involve development of the remaining 79 independent living apartments (bringing the total to 163). The construction phasing plan continues to evolve and may be further refined as this application advances. Period of Statutory Protection and Duration of Approval Since the project is to be built in phases, it is difficult to predict with precision how long it will take from initial groundbreaking to project completion. If the project is approved by the Board, Daughters estimates that it will require approximately six (6) years from commencement of construction to the completion of Phase Three. Period of Statutory Protection The Municipal Land Use Law (“MLUL”) recognizes that an applicant should be accorded a reasonable period of time to build out its project once approval has been granted, without having to be concerned with changes in zoning regulations. Therefore, it provides that the zoning requirements and all other rights conferred on the developer when approval is granted “shall not be changed for a period of two years after the date on which the resolution of final approval is adopted.” N.J.S.A. 40:55D-52.a. That statutory protection may be extended for extensions of one year, not to exceed three extensions in total. In a project with multiple phases, however, that provides a potential for only five years of statutory protection, and also requires that the applicant return to the Board for extensions year after year. To avoid that and provide a reasonable period of statutory protection from zoning changes that is more in keeping with the size and duration of the project, the MLUL also provides that “[i]n the case of a site plan for a development consisting of not less than 150,000 square feet of nonresidential floor area or not less than 100 residential dwelling units” the Board may approve a statutory protective period “for such period of time beyond two years, as shall be determined by the [Board] to be reasonable taking into consideration (1) the number of dwelling units and nonresidential floor area permissible under final approval, (2) economic conditions, and (3) the comprehensiveness of the development.” N.J.S.A. 40:55D-52.e. The developer may apply thereafter for extensions which may be granted based on these considerations as well as the amount of the project remaining to be developed. In view of

.” N.J.S.A. 40:55D-52.e. The developer may apply thereafter for extensions which may be granted based on these considerations as well as the amount of the project remaining to be developed. In view of these statutory factors, the nature of the project and the need for construction of each phase to proceed in a manner that allows for occupancy by existing residents, Daughters requests that the Board grant