(A) All inclusionary development on sites identified in the Township Housing Plan or any multifamily dwelling unit development with a finally approved density equal to six units per gross acre or more, shall have a mandatory 20% set aside for the provision of affordable housing. Notwithstanding the foregoing, if the developer of the inclusionary or multifamily dwelling unit development does not desire to set aside all of the required units for sale or lease to low and moderate income households, or desires to set aside less than the required number of units, the developer may satisfy its fair share requirement by paying to the Township Fair Share Trust Fund a development fee equal to $25,000 times the exact number of required low and moderate income units that the developer does not intend to develop and sell or rent. Fifty percent of the total development fee due must be paid prior to issuance of the first building permit for the development and the balance must be paid prior to issuance of the first certificate of occupancy with respect to the development. The collection, administration, and use of the development fees collected will be governed by Chapter 36.
('74 Code, § 131-77) (Ord. 15-1975, passed 8-11-75; Am. Ord. 369-1987, passed 7-27-87; Am. Ord. 699-94, passed 6-13-94; Am. Ord. 873-98, passed 5-11-98; Am. Ord. 945-99, passed 9-13-99; Am. Ord. 43-04, passed 3-22-04; Am. Ord. 266-15, passed 5-11-15) Penalty, see § 156.999