West Orange Fourth Round HEFSP_adopted 111025_Appendices

April 6, 2020 Page 4 Highlands, Inc., an intervenor in this declaratory judgment matter. The proposed agreement (not yet drafted and presented to Council) will provide that West Essex shall be permitted to construct up to 496 apartments. West Essex shall provide a letter prior to the fairness hearing in this matter firmly committing to setting aside 100 of the 496 units for affordable housing, a 20% set-aside. The letter shall confirm that West Essex has agreed to provide all of the affordable housing units as family rental units and that it shall follow the UHAC regulations regarding, among other things, income distribution, bedroom distribution, length of deed restrictions, and affirmative marketing and that West Essex agrees that 13% of the affordable housing units provided on this site shall be available to households earning less than 30% of the median income. b) Selecto Flash - The Township has adopted a Redevelopment Plan for the area called the Central Valley Corridor Redevelopment Area on December 12, 2016. The Selecto Flash site at Block 9 Lot 35 and Block 7 Lot 22 is located within this Redevelopment Area. The Township has rezoned these properties as part of the Redevelopment Plan to permit up to 111 residential units including a 15% set- aside of 17 affordable housing units. c) Executive Drive Redevelopment — The Township has adopted a Redevelopment Plan for the area called the Essex Green Executive Drive Redevelopment Area. Block 155 Lots 40.02, 40.03, 40.04, 41.02, 41.02, and 42.02 are included in this Redevelopment Area. The Redevelopment Plan is in the process of being amended, which process shall be completed no later than 30 days prior to the final compliance hearing in this matter, to permit the following on each Block/Lot: ¢ Block 155 Lot 40.02 and 42.02 — 18.2 total acres — permitting 425 residential units including a 15% set-aside of 64 affordable housing units. « Block 155 42.01 — 8.2 total acres — will continue its office use and will not provide affordable housing or generate RDP at this time. « Block 155 Lot 40.03 - 4.72 total acres — permitting up to 123 residential units including a 20% set-aside of 23 affordable housing units. 9. Library Site - 46 Mount Pleasant Redevelopment Area — The Alpert Group have secured an award of low-income housing tax credits for this site for the development of 64 age- restricted rental units.

9. Library Site - 46 Mount Pleasant Redevelopment Area — The Alpert Group have secured an award of low-income housing tax credits for this site for the development of 64 age- restricted rental units. The Township may apply 17 of these 64 credits towards its Third Round RDP because of the age-restricted cap, The 47 additional units will be applied toward the Township's unmet need. The Township shall further explain in its Housing Element and Fair Share Plan how this site creates a realistic opportunity for affordable housing in accordance with N.J.A.C. 5:93-5.5. 10. The RDP of 421 subtracted from the agreed upon Third Round Obligation of 954 units, results in an Unmet Need of 533 units. The Unmet Need is further reduced by the 32 surplus credits the Township has provided in addressing its RDP, the existing 57 affordable housing units provided at the Woodland Valley age-restricted site, and the remaining 47 units of credit from the Library site. Thus, the Township's unmet need is 397 units, which shall be addressed through the following mechanisms: a) K-Mart / Whole Foods Shopping Center * Block 152.01, Lots 1445 and 1445.05 * Corner of Eagle Rock and Prospect Avenue ¢ Current owner: West Orange Plaza Lot Area: 32.32 acres « Zone: P-C Planned Commercial