Draft_October 2025_West Orange_HEFSP_with Appendices

April 6, 2020 Page 15

April 6, 2020 Page 16 EXHIBIT B: 2019 INCOME LIMITS a | meponat asset a 15) 2 2 4 as. s . 7 - Ients** Sotes***| Limit®*** [Region 1 secon SE5ROT STA36S 576122 SHS,637 $95,153 $98,959 $100,765 $110,377 Moderate 353286 «© $87,082 $60,298 $68,510 $76,122 $79,167 = $82,212 ‘$88,302 jamarigeerpscoet 533303 $35682 $38,061 $42,819 SATS76 549.479 551,382 555,189 ay) ee [Very Low 519,982 $21,409 __ $22,837 $25,691. S2a,sas $29,688 530,829 $33,113 Region 2 [Mecion S70S37 S7SS76 $80,614 $90,691 $100,767 $104,798 $108,829 $116,890 ee |Moderae | $56430 $60,060 $64,491 $72,553 $8014 $83,838 $87,063 $93,512 sem] sisaaz0 Union and Warren |*2* 535269 «537,788 = $40,307 $45,345 $80,384 = $52,399 Ss4a14 = $88,405 [Very Low $22,263 __ $22,673 $24,184 $27,207 $30,230 __ $31,439 $32,649 _ $35,067 Region 3 [Median S82810 SRB TZS «= $94,440 $106,470 $128,300 $123,032 $127,764 $137,228 Hunterdon, |Mocerate $66248 = $70980 $75,712 SES.176 —- S84,640 = $98,426 $102,212 $109,782 oom $278.261 Mudcheses and ow Ses = $44,363 $47,320 $53,235 $89,150 SOL S16 = $63,882 seagie [Somerset [Very Low $2484) 526618 $28,392 S9en $35,490 $36,910 $38,329 Saniee [Region & [Median S72465 «| S77.319 $82,474 592,783 $203,092 $107,216 $111,340 $219,587 $127,834 $196,082) Mercer, |Moderate | 557,732 SLES $65,979 $74,226 SE2.474 585,773 5102268 $108,865] 36, yoy | su9a.s18 Monmouth and |Low 536082 S38660 541237 546,392 551546 553,608 $63,917 $68,081] [Ocoee [Very Low S21649 523.196 $24,742 $27,835, $30,928 __ $32,165 538,380 $40,825) [Region S [Median 363970 S6TS7S «= $72,080 = $81,090 $90,100 $93,704 ‘S191724 $118,932) eertington, Moderate | SS0.456 $54060 557.664 564,872 $72,080 $74,963 SOY EU a ue |) ae [Camden ond Low S31535 $3378 $36,080 $40,545 $45,050 $46,852 SSSA62 $59,466) pseteestead [Very Low $18.921___$20273_ $2624 $24,327_$27,030_ $28,111 333517__ $35,680} [Region & |Median ‘383,714 SS7580 $61,387 $49,081 $76,734 = ($79,803 $95,150 $103,289) JAtiante, Cape [Moderate SA2S7L «= S46080 $49,110 $55,248 ‘$61,387 563,843 $76.120 $81,031] 26s S456 $143,703 May, Cumberiand, lLow 526357 $2877S = $30,694 $34,530 $38,367 $39,902 SATSTS $80,644] and Salem [Very Low S114 —-S17.265 — S1B416 $20,738 $23,020 ~— $23,941 S28545 $30,387] Maderote income is Between 80 and 50 percent of the tow. is 50 percent or less of t. Very tow income i 30, 04 tess of | * These coturnns are for calculating the pricing for

~— $23,941 S28545 $30,387] Maderote income is Between 80 and 50 percent of the tow. is 50 percent or less of t. Very tow income i 30, 04 tess of | * These coturnns are for calculating the pricing for one, two and three bedroom sale and rental units as per NJAC 5:80:26 4{a), "Thee ts weed for the pricing for rent: for unis (a5 caloulated under NJAC. §.97-9.3). The increase for 2015 was 2.3%, the increase for 2016 war 1.1%, the increase for 2017 was 17%, and the increase for 2018 was 22%. The increase for 2019 is 2.6% (Consumer price Index for All Urban Consumers (CPi-U): Regions by expenditure category and Commodity aNd service group). Landlords whe did not increase rents im 2015, 2026, 2017, oF 2018 may increase rent by up to the. percentage 2019 or 9.0% ver ‘{s hent im accordance with NIAC $:97-9 3c) In no care Can rent for any particular apartment be increased more than one time per year Th uses for the pricing for resaie for units (9s previourty calculated under NJAC. 597.93). The price of owneroceupied low and moderate mcome units may increase, ‘based on the perc inthe regrona! lim tor each ep!on. In no event shail the maximum resale price ertabiched by the administrative agent be lower than the tact recorded purchase price tow ta credit my based on the low tax erese the Asset Unit is used in = ‘ eligibtity tor affordable housing purmuant to NJA.C. $:80-26.16(b)3.

APPENDIX B Settlement Agreement between the Township of West Orange and West Essex Highlands, Inc., dated April 23, 2020

EXHIBIT WO-2 (West Essex Highlands Settlement Agreement)

96-20 SETTLEMENT OF LITIGATION AGREEMENT This Settlement of Litigation Agreement (the “Agreement”) is entered into this___ day of , 2020, by and between WEST ESSEX HIGHLANDS, INC., a corporation of the State of New Jersey having a business address of 820 Morris Turnpike, Short Hills, New Jersey 07078 (“WEHI”), the TOWNSHIP OF WEST ORANGE, County of Essex, State of New Jersey, a municipal corporation of the State of New Jersey with a business address of 66 Main Street, West Orange, New Jersey 07052 (the “Township”), and WEST ESSEX HIGHLANDS CONDOMINIUM ASSOCIATION, INC., having an address of 1 Reger Lane, West Orange, New Jersey 07052 (the “Association”). Collectively, WEHI, the Township and the Association shall be referred to as the “Parties.” WITNESSETH: WHEREAS, this Agreement concerns the development of real property consisting of approximately 120.5 acres generally located in the northwest corner of the Township adjacent to the northern terminus of Warner Road, which property is specifically identified as Block 179, Lot 32 on the Township’s Official Tax Map (the “Subject Property”); and WHEREAS, the Subject Property is generally bordered by the Township of Essex Fells (“Essex Fells”) to the west, the Township of Verona (“Verona”) to the north, and the West Essex Highlands Condominium development in West Orange (the “Condominium”) to the south; WHEREAS, the Association is duly constituted condominium association for the Condominium; WHEREAS, WEH is the owner of the Subject Property; and WHEREAS, the Township instituted certain litigation now pending in the Superior Court of New Jersey, Law Division, Essex County captioned In the Matter of the Application of the

Township _of West Orange, Docket No. ESX-L-4697-15 (the “Declaratory Judgment Litigation”); and WHEREAS, the Declaratory Judgment Litigation seeks declaratory relief approving the Township’s plan to satisfy its current affordable housing obligation and immunity from builders? remedy lawsuits through the year 2025; and WHEREAS, WEH intervened as a defendant in the Declaratory Judgment Litigation; WHEREAS, WEHI and the Township engaged in court-ordered mediation with Elizabeth McManus, P.P., the court-appointed Special Master in the Declaratory Judgment Litigation; and WHEREAS, the Association is not a party to the Declaratory Judgment Litigation, but WEHI and the Township recognized the Association, an adjacent neighbor to the Subject Property, as an interested party with respect to the development of the Subject Property whose participation and input at mediation was deemed essential; WHEREAS, the Township wishes to include the Subject Property as part of its affordable housing compliance plan in connection with the Declaratory Judgment Litigation; and WHEREAS, the Parties, subject to the terms hereof and all other required governmental approvals, have agreed that the Subject Property shall be developed as a multi-family residential development consisting of 396 market rate units and 100 affordable units, for a total of 496 units, and a clubhouse/amenity buildings (the “Proposed Development”) consistent with the “West Essex Highlands Concept Plan 16 for West Essex Highlands, Block 179, Lot 32, Township of West Orange, Essex County, New Jersey” dated March 3, 2020 prepared by Anderson Consulting Services, LLC (the “Concept Plan”), a true copy of which is attached hereto as Exhibit A; and WHEREAS, the Concept Plan reflects certain requests by the Association, including that (1) the Proposed Development be located a sizeable distance from the Subject Property’s boundary

with the Condominium; (2) Bayowski Drive remain a cul-de-sac and will only serve as an emergency access point to the Proposed Development; (3) the Proposed Development result in a minimal amount of disturbance to the Subject Property; and (4) Warner Road is intended as the primary means of access to the Proposed Development; and WHEREAS, the Parties, subject to the terms hereof, have agreed that the Proposed Development shall include an affordable housing set aside of 20% of the total units constructed; and WHEREAS, the Subject Property is not presently zoned as to permit the development of the Proposed Development; and WHEREAS, Township has agreed to adopt an ordinance rezoning the Subject Property so as to permit the construction of the Proposed Development as of right consistent with the permitted uses and bulk standards as set forth in a proposed amendment to the Zoning Ordinance of the Township in the form attached hereto and made a part hereof as Exhibit B (the “Zoning Amendment”); and WHEREAS, the Parties recognize and agree that the Proposed Development shall be accomplished in a manner consistent with the design terms and conditions set forth in Exhibit c attached hereto (the “Design Terms and Conditions”); and WHEREAS, the Parties recognize and agree that the Proposed Development shall be accomplished in a manner consistent with the terms and conditions agreed to by the Association and WEHI, as set forth in Exhibit D, attached hereto (the “Association Terms and Conditions”); and WHEREAS, the Planning Board of the Township of West Orange (the “Planning Board”) is not a party to this Settlement Agreement. However, the Parties understand and

anticipate that the Planning Board will consider the Proposed Development in accordance with applicable land use laws, municipal ordinances and the Township’s approval of this Agreement; and WHEREAS, in order to amicably resolve all issues in the Declaratory Judgment Litigation, the Township shall adopt the Zoning Amendment in a manner consistent with this Agreement; and WHEREAS, the Parties have reached an amicable settlement of the Declaratory Judgment Litigation, and desire and intend to memorialize the settlement by the execution of this Agreement. NOW, THEREFORE, IN CONSIDERATION OF THE PROMISES, TERMS AND CONDITIONS SET FORTH HEREIN, INTENDING TO BE LEGALLY BOUND HEREBY, THE PARTIES AGREE AS FOLLOWS: 1, RECITALS, The WHEREAS recital paragraphs hereinabove set forth are incorporated herein by reference. 1.1 PURPOSE. The Purpose of this Agreement is to amicably resolve the Declaratory Judgment Litigation consistent with the terms hereof which, in part, are intended to ensure the construction of the Proposed Development generally consistent with the Concept Plan, 2. OBLIGATIONS OF THE TOWNSHIP. 2.1. Adoption of Zoning Amendment. Within one hundred twenty days (120) days from Court approval of this Agreement at a duly noticed Fairness Hearing, the Township shall move and vote on the adoption of an ordinance similar in all material respects to the Zoning Amendment after a duly noticed public hearing. Within the same time period, the Planning Board shall make recommendation on the Zoning Amendment in accordance with the procedures of the Municipal Land Use Law, N.1S.A. 40:55D-1, et seq. (“MLUL”). Simultaneously, to the extent

necessary, the Council shall submit an amendment to the Master Plan for consideration by the Planning Board consistent with the Zoning Amendment. The Township hereby agrees not to take any action which will modify the Zoning Amendment or which will otherwise require a variance application in connection with the Proposed Development without the consent of WEHI, 2.2. Obligation te Cooperate. The Parties acknowledge that in order to construct the Proposed Development on the Subject Property, WEHI will be required to obtain all necessary agreements, approvals and permits from all relevant public entities and utilities; such as, by way of example only, the Planning Board, the County of Essex, the Essex County Planning Board, and the State of New Jersey, Department of Environmental Protection (“NJDEP”) -- including all ordinance requirements as to site plan and/or subdivision approvals (collectively, the “Required Approvals”). The Parties agree to cooperate in all undertakings to obtain the Required Approvals, including but not limited to those approvals required for the installation of a traffic signal at the intersection of Eagle Rock Avenue and Oval Road, including the Township exercising its eminent domain/condemnation powers. All expenses to obtain approvals and acquisition of property shall be at WEHI’s sole cost and expense, If any public takings are necessary for intersection improvements, WEHI shall have the sole authority to settle any condemnation proceedings and WEHI shall fund all expenses of any condemnation process, including but not limited to legal fees, appraisals and any other experts and any just compensation required by any settlement or formal decision awarding such compensation, Within five (5) days of the Township Council's approval of this Agreement, the Township shall provide a copy of this Agreement to the Planning Board, Although the Association and WEHI may desire for the Township to accept a dedication of Oval Road as a public road, the Township does not presently have a desire to accept Oval Road as a public road and is under no obligation to do so in the future.