Evergreen Terrace Sample Clauses

Evergreen Terrace. Rehabilitation of existing age−restricted units is proposed at this site. The Borough is claiming 50 credits from this site and is applying them to the Borough’s present need obligation. As noted above, the Borough has applied a set−aside of 20% to affordable development sites proposed for the Third Round based on the 2008 Housing Element and Fair Share Plan, previously approved projects without a set−aside, and emergent projects. These sites generate an RDP of 82 units. Rehabilitation is proposed at the existing Xxxxxxxxxx Terrace Apartments and Evergreen Terrace Apartments. These sites contribute to the Borough’s present need obligation. The remaining sites were designated as Prior Round sites in the 2008 Plan or fall in the Prior Round Overlay. These sites contribute to the Borough’s unmet need obligation. It is important to note that the Borough reserves the right to amend the RDP calculation approach and projects that comprise the 82−unit RDP calculation and the unmet need calculation above through the course of work on the Housing Element and Fair Share Plan, in order to reflect any changes in the status of these projects, and/or any changes in applicable regulations, policies or court decisions that are pertinent to the Borough. As such, the amendments to this portion of the VLA may require an adjustment that increases or decreases the RDP to accurately correspond with the pending Fair Share Plan. SUMMARY & CONCLUSION The vacant land analysis conducted herein reveals that Red Bank Borough does not have sufficient acreage to accommodate its Third Round obligation of 313 units. After following the procedures for a vacant land adjustment, pursuant to N.J.A.C. 5:93, it has been determined that Red Bank Borough has a Realistic Development Potential of 10 units based on vacant land. When incorporating the RDP of existing development projects, the Borough’s RDP is an additional 82 units, pending the update of the Fair Share Plan as noted above. The total RDP is therefore 92 units. The remaining obligations from the Prior Round and Third Round shall be subsumed by the Borough’s unmet need obligation. APPENDICES APPENDIX A Vacant Land Inventory Table VACANT PARCELS BLOCK LOT PROPERTY LOCATION PROPERTY OWNER OWNER ADDRESS TOTAL ACREAGE COMMENTS 0 0 XXXXXX XXX XXXXXXX, XXXXXX A 00 X XXXXXX XXX, XXX XXXX, XX, 00000 0.1492 Insufficient acreage 4.01 3 63−00 X XXXXXX XXX 63−00 XXXXX XXXXXX XXXXXX LLC 000 XXXXXXXXX XXXXXX, XXX XXXX, XX 00000 0.1492 Insufficient acr...
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