238 26 Exhibit B Affordable Housing Agmt Exhibit C Draft Ordinance

WHEREAS, following discussions among the Township, the Board and 410 Main, the Parties reached an agreement to which 410 Main agreed to withdraw its opposition to the Township’s pending Motion for Temporary Immunity / Interim Restraints, and the Parties agreed, subject to finalization of this written settlement agreement within forty-five days of the Court’s June 24, 2026 Order and required implementing municipal action, that the Property would be included in the Township’s Fourth Round HEFSP and related implementing measures for the provision of two (2) affordable housing units; and WHEREAS, the Parties desire to resolve the 410 Main Actions, avoid further litigation, provide certainty regarding the development of the Property, and provide the Township with affordable housing credits that may be applied toward the Township’s Fourth Round affordable housing obligation; and WHEREAS, Developer seeks to develop the Property with a rental inclusionary residential project consisting of twelve (12) total residential apartment units, no commercial component, structured/underground parking, and related improvements, intended to be consistent with the concept plan attached hereto as Exhibit A and the zoning ordinance attached hereto as Exhibit B, of which two (2) residential units shall be affordable units set aside for occupancy by very low, low, and/or moderate income households in accordance with the Uniform Housing Affordability Controls, N.J.A.C. 5:80-26.1 et seq. ("UHAC"), the Fair Housing Act, applicable Court orders, and the Township's Court approved affordable housing plan (the "Inclusionary Project" or "Project"); and WHEREAS, at twelve (12) total residential units, the Parties acknowledge that the twenty percent (20%) affordable housing set aside equals 2.4 affordable units, and Developer shall provide two (2) on-site Affordable Units and satisfy the remaining 0.4 fractional affordable housing obligation by making a payment in lieu to the Township’s Affordable Housing Trust Fund in the amount of Seventy-Two Thousand Dollars ($72,000.00), calculated as forty percent (40%) of One Hundred Eighty Thousand Dollars ($180,000.00), subject to approval by the Court or other reviewing authority to the extent required; and. WHEREAS, the Project shall include no fewer than nineteen (19) on-site parking spaces, and the area formerly proposed as ground floor

e Court or other reviewing authority to the extent required; and. WHEREAS, the Project shall include no fewer than nineteen (19) on-site parking spaces, and the area formerly proposed as ground floor commercial space in the Prior Application shall be converted to structured/under building parking, subject to final site plan approval and the zoning ordinance attached as Exhibit B; and WHEREAS, Developer shall annually purchase five (5) municipal parking permits at the standard municipal rate, for the municipal parking location at George Quigley Parking Lot {northeast intersection of Mississippi Avenue and Harrison Avenue) for the duration of this Project’s use; and WHEREAS, Developer shall install a pedestrian warning device for vehicles exiting the 3