Public Township Council Meeting — Packet

Projected Administrative expenses Actual fees and interest through 12/31/2011 $4,732,824.95 Projected development fees and interest through 2018 $707,000 Payments in lieu of development and other deposits through 2011 $1,095,927.66 Less RCA Expenditures through 12/31/18 00.00 Total for Admin. Calculation 2012-2018 $6,535,752.61 20 % Maximum for Admin. Expenses $1,307,150.52 Less Admin through 12/31/2011 $395,658.74 Available for Admin. 1211-1218 $911,491.78 These fees will be utilized for administrative purposes such as consultant’s fees necessary to develop and implement the soft costs of the housing program, the housing element, the fair share plan and the affirmative marketing program. Administrative funds may be used to defray the costs of consultants that are preparing or implementing a plan such as the accessory apartment program and the Market to Affordable Program. Administrative funds may be used to income qualify households and monitor implementation. 4. EXPENDITURE SCHEDULE West Orange intends to use affordable housing trust fund revenues for the creation and/or rehabilitation of housing units. Where applicable, the creation/rehabilitation funding schedule below parallels the implementation schedule set forth in the amended Spending Plan and is summarized as follows. 6